No shortage predicted in U.K. retirement money

U.K. retirement assets will grow faster than the economy over the long term, according to UBS Global Asset Management's annual Pension Fund Indicators research report. That's because individuals are starting to save more, and pension funds that have been closed to new members will take a long time to "die out," said Mike Housden, UBS Global managing director. Also, pension funds are trying to better match their investments to liabilities, rather than following latest trends. At the same time, pension funds will continue to put more money into alternative investments, including hedge funds, said Mr. Housden. However, plan sponsors will establish more defined contribution and hybrid schemes than defined benefit plans, he added.