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Church of England Favors Private Credit Over Stocks

  • Scheme will allocate 10% to asset class over next 10 years
  • ‘Escaping from price swings’ of equity cited as a reason
Pedestrians battle high winds as they cross Millennium Bridge in view of St Paul's Cathedral as the Storm Doris weather front hits London, U.K., on Thursday, Feb. 23, 2017. The U.K.'s withdrawal from the European Union will be expensive for Britain, Austrian Chancellor Christian Kern said.
Photographer: Bloomberg/Bloomberg

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A pension scheme for the retired clergy of a 500-year old Christian institution in England is seeking to boost returns by shifting money into firms that extend private loans to small and medium-sized companies.