Professor Philip Bennett Discusses Leveraged LDI and UK Pension Funds Acting Ultra Vires in Recent Article
19 May 2023
What is Leveraged LDI and were UK pension funds acting ultra vires are questions discussed by Professor in Practice Philip Bennett in a recent article
Leveraged Liability Driven Investment (“LLDI”) by UK pension funds triggered a £65 billion intervention by the Bank of England in the gilts market at the end of September 2023 and a number of Parliamentary Select Committee investigations.
What is LLDI and were the pension funds acting ultra vires? These questions are discussed in an article co-authored by Durham Law School Professor in Practice Philip Bennett. This article first appeared in the April issue of Butterworths Journal of International Banking and Financial Law.