Member

Secondly, they support productive finance. Superfunds and particularly run-on models are better placed than mature DB schemes or insurance buyout providers to invest in a wider range of growth-oriented assets, including private markets. That supports long-term returns, UK investment and, where surplus is returned, the wider strength of UK businesses themselves. Larger professionally managed pools can invest in infrastructure and long-term assets, while protecting fiduciary duty. It is on this basis that I am grateful to the noble Baroness, Lady Bowles of Berkhamsted, for introducing Amendment 182—or, if it should be Amendment 181, I thank my noble friend Lady Noakes.