Member

As I read it, the modelling does not say that having more UK assets is unambiguously better. It shows that strategies with a higher private market and/or UK exposure can have slightly higher projected pot values than the baseline scenario—in fact, about 2% higher—but it also shows that, if the current underperformance of the UK versus global equities persists, UK-heavy allocations will underperform the baseline. I acknowledge that interpreting modelling in simple terms can be difficult. Can the Minister help by saying whether I have drawn the correct conclusions and, if I have, whether she thinks the findings make a case for mandation?