The UK's £1.5bn (€2.17bn) Avon pension fund will review its entire investment strategy this year. Investment consultancy PSolve has been appointed to advise on the project.

The local authority fund's current investment strategy is 45% UK equities, 30% overseas equities, 6.5% in index-linked gilts, 7.5% fixed interest gilts, 7.5% in UK corporate bonds and the rest in overseas fixed interest.