Around 35% of finance directors working for large UK companies say their pension funds are considering lifting allocations to fixed income following the introduction of accounting standard FRS17, according to investment manager Gartmore.

A survey by Gartmore has secured responses from 60 out of the UK's largest 100 companies. More than 40% of the 60 expressed concern that accounting standard FRS17 will lead to a greater volatility in their share prices, as a result of concern about the disclosure of market-related pension fund surpluses or deficits by companies.