What has turned out to be a protracted process of pension fund administration is now largely complete. So I have finally been able to analyse my precise exposure to different areas of the market and have, in effect, taken direct control of the larger part of my pension pot for the first time. From now on, I feel able to look at my pension and the rest of my portfolio as a single entity.

In my experience, asset allocation has by far the greatest bearing on overall portfolio performance. Looking at my exposure to different areas is becoming an important discipline.