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The Bank of England’s own staff pension fund appears to have been a beneficiary of its £65 billion gilts market bailout

The Times | Oct. 4, 2022

The Bank of England’s own staff pension fund appears to have been a beneficiary of its £65 billion gilts market bailout last week as it emerged the scheme had more than £4 billion invested in the asset class at the centre of the crisis.

Like many traditional pension funds, the Bank’s scheme used so-called liability driven investment (LDI) funds to manage its risks and had placed almost £4.2 billion, or 82 per cent, of its money, with Legal & General, the leading LDI player in London.

The revelation came as attention focused on L&G, Insight Investments and Blackrock over their role in selling LDI products to pension schemes. Questions were being raised about whether they warned schemes sufficiently about the liquidity risk.

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1 Comment on The Bank of England’s own staff pension fund appears to have been a beneficiary of its £65 billion gilts market bailout

  1. n England this deceitful system was officially sanctioned in 1694. The usurper of the throne, William of Orange, had overthrown the legitimate King James II with the financial backing and plotting of powerful Jewish financiers in Amsterdam. In return he gave the sovereignty of England to a group of financiers by means of a Charter allowing them to call themselves the Bank of England. The Charter made no mention of issuing the nation’s money, but within minutes of signing the new Bank officials were discussing the form of their “running cash notes.” The same system was adopted in every country by a process of Masonic revolution and manipulation.

    https://www.heretical.com/miscellx/usury.html

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