Isio, a U.K.-based pensions consultancy, has published findings from its latest research into the use of illiquid assets among 15 major providers of defined contribution (DC) master trusts. The study reveals that providers are directing an outsized portion of these investments toward U.K.-based opportunities, with the majority planning to invest between 21 percent to 30 percent domestically and some committing more than percent.
This shift reflects both the influence of government initiatives, such as the 2023 and 2024 Mansion House reforms, and a broader focus on U.K. infrastructure and real estate as attractive long-term investment opportunities. As of yet, specific allocations to U.K. venture capital are rare, with currently most providers considering this as part of a broader private equity mandate.
Isio’s research finds that target allocations vary between less than 5 percent at one end of the market but rising up to 30 percent at the other end. The variance acc
