The U.K.’s Pension Protection Fund (PPF) has bought more than £1 billion of repos, Financial News reports. The retirement system seeks to use the repos as a way to help hedge its liabilities.
The £4.4 billion pension fund has borrowed money using the repo market to finance its gilts portfolio. PPF was established by the government to pay pensions to workers whose employers have gone bankrupt.
Click here for the story from Financial News.