Investors will need to dispense with broad allocations to a narrow range of asset classes and instead invest in a much more granular way across the broadest range of potential markets.
With the recent changes to the annuity rules – announced by chancellor George Osborne in this year’s Budget and due to come into effect next April – the floodgates have opened.
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As a result, there is likely to be a growing contingent of managers targeting the new breed of investors that has been created.
Peter Fitzgerald is head of multi-asset investment at Aviva Investors
Key figures
15%
The level at which interest rates peaked in 1990
1.5%
The current level of inflation in the UK
April 2015
The date new pension rules come into effect
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