Woodford laments risk aversion
The UK asset management industry has turned too risk-averse in the last 30 years and ceased to invest in local innovation, according to prominent fund manager Neil Woodford; pension funds’ allocation to UK equities had plunged to 8%, from 40% a decade ago, he says. (Times)

Ethical investing policy hurts Norwegian SWF returns
Norway’s $920bn oil fund forfeited potential excess annual returns of 1.9% relative to its benchmark, over the 10-year period ending 2016, owing to restrictions on investments in the tobacco, nuclear weapons and cluster bomb sectors. (FT)