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.