In terms of what may be in it for the asset managers, one of the companies that signed the chancellor’s compact is M&G.
Edward Braham, M&G chair, says: “Patient capital put to work in companies or projects over multiple decades is essential to support economic growth and, importantly, capture value for people’s pensions as they save for their retirement. M&G’s heritage is in investing in private markets, whether it is through infrastructure, real estate or innovative companies with purpose.”
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Among the other companies to have signed the compact are Aviva and Scottish Widows.
David Thorpe is investment editor at FTAdviser
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