The number of pension schemes adopting a conservative investment approach that is heavy on risk-free government bonds doubled last year as they sought to protect returns against the volatility of both the local and overseas equities markets.
A survey done by pension administrator Zamara on 423 pension schemes holding Sh1.03 trillion in assets under management (AUM) shows that 196 had allocated at least 80 percent of their investments into fixed-income securities by the end of last year, up from 85 in 2021.
