“In 2019, the world witnessed very strong returns, with most equity markets posting strong double-digit returns” – so begins the 2020 edition of Mercer’s European Asset allocation survey, a comprehensive annual report now in its 18th year. It went on to note that Irish pension funds were diversifying away from equities. But what if certain equity holdings were not cashed in at the right time? That is the claim being levelled against the Irish subsidiary of Mercer, the global wealth consultancy firm, in new legal proceedings launched on behalf of the Aer Lingus pilots’ superannuation scheme. The pension scheme is…

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