Official announcements from UK pension funds or financial news outlets

Cartwright Leads First UK Pension Scheme to Invest in Bitcoin with Largest 3% Allocation

Nov 4, 2024, 04:27 PM

Cartwright, a British pension specialist, has announced a groundbreaking decision to allocate 3% of a UK pension scheme's portfolio to Bitcoin. This move, made in October, marks the first time a UK pension fund has invested in Bitcoin. The allocation is 30 times higher than that of the Wisconsin Pension Fund and is the largest allocation of any sovereign fund globally. Cartwright advises dozens of pension funds in the UK, and this decision is seen as a step towards diversification and future-proofing pension schemes. The trustees of the pension scheme believe that Bitcoin's unique asymmetric risk-return profile offers significant growth potential and financial impact. Sam, a representative from Cartwright, stated that trustees are increasingly looking for innovative solutions to future-proof their schemes in the face of economic challenges.