Welcome to the latest update for the LCP strategic portfolio for UK defined benefit pension schemes.

Inside you will find the latest thinking from our investment strategy team and specialist asset class researchers. 

In this edition we focus on:

• The implications of the third quarter being reasonably benign for most investment markets, apart from inflation expectations continuing to increase. As a result, the strategic portfolio has remained relatively unchanged. 
• However, within the investment grade credit space, we view asset-backed securities as most attractive currently and have continued to increase this allocation further. In addition, we have split out the Emerging Markets allocation into separate equity and debt allocations as we believe it is more effective to manage these separately.
• Finally, we have identified attractive opportunities in the newer areas of infrastructure investment, which we believe our clients should explore further.