The £12bn-plus Mineworkers' Pension Scheme has shifted more than £1bn (€1.66bn) of assets into overseas equities following its successful 9% boost in pensions to around 390,000 of the scheme's members.

The fund has gone from investing 60% (£7bn-plus) in UK equities and 40% in overseas to a 50/50 split. It follows a trend among occupational schemes to increase their international exposure.