HMT announces £200m pension fund backing for UK science and tech investment
HM Treasury (HMT) has announced that three major pension funds – Aegon UK, NatWest Cushon and M&G - are in the final stage of approval for contributing to an initial £200m of investment to support cutting-edge British businesses, following the Chancellor’s announcement of a new vehicle for pension investment in venture capital in October last year - the British Growth Partnership Fund. The Fund is intended to channel pension savings into high-growth UK businesses in sectors such as clean energy, fintech and medical technology. It aims to help firms expand within the UK, create employment and deliver stronger returns for savers.