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Friends Prov allocates 1 per cent of investments to private equity

Pensions specialist Friends Provident plans to invest 1 per cent of its assets in private equity.


The life office has passed responsibility for the investment to fund management subsidiary Friends Ivory & Sime.


Friends Provident&#39s life fund has assets of £17bn which means a total of £170m will be invested.


The move follows a call by Prime Minister Tony Blair for pension funds to increase their venture capital investment.

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