Fund Management

Time to think outside the box

Carl Hess, global head of investment at Towers Watson, on investing with today's uncertain outlook. Pension funds need to think outside the box, he says, and be prepared to leave their comfort zones. Exposure to developing nations would be a good strategy and a basket of investments could include currency and real assets. Gold remains a good hedge for pension funds, he says, adding funds must be prepared for inflation, deflation and volatility.