The official pension fund for millions of novice retirement savers in Britain has had a novel wheeze. It wants to invest the members’ contributions in commodity futures. The Nest trustees appear to have succumbed to the near-fetish of investment consultants, the push for ever more diversification and the nirvana of so-called “uncorrelated” returns. Boring old shares, bonds and property alone just don’t do it for them. Either that, or they’ve been watching reruns of Trading Places and have fantasies about being Eddie Murphy and…

Source: The Times February 06, 2018 00:00 UTC