How fund managers are making the pensions crisis worse

Fund managers like to run with the herd, even if the herd is rushing headlong over a cliff. The rush to match pension liabilities by buying ridiculously expensive government bonds only proves this, says fund group Bedlam Asset Management. But even the more independent-minded managers are setting themselves up for a fall, by investing in 'safe' big-cap stocks like Vodafone.

Above the urinals in Bank underground station, the all powerful Corporation of London has seen fit to affix its ancient crest of gryphons and the cross of St. George, underneath which is the Latin legend "Domine Dirige Nos", or "God direct us".

Useful advice to be sure in such circumstances, particularly given that a high proportion of the facility's users are down and outs. Whether such a portentous maxim in a dead language will improve their aim however, remains open to doubt.

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MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.