It is a shame that a lot of the good sense about pension investments is hidden away. This morning there was an excellent article by Edward Chancellor in FTfm, Pensions still oblivious to bond wisdom.
The first rule of financial prudence is that assets and liabilities should be matched. Unfortunately, during good times this rule tends to be forgotten. There’s normally a profit to be made by borrowing in a low-yielding currency and lending in another at a higher rate; or by borrowing short and lending long. The mismatching of assets and liabilities lies at the heart of the current credit crisis. In recent months, many have discovered the perils involved in the pursuit of such easy gains. Only the pension world remains oblivious.
He may have the Pension Benefit Guarantee Corporation in his sights, but what is true that side of the Atlantic also holds good over here.
Enough said: George Wilkinson's blog 
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