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Pension funds set to dump stocks after epic rally

JPMorgan estimates global institutions will offload as much as $170bn in quarterly reset

Stock markets will be hit by a wave of selling from pension funds rebalancing their investments in coming weeks, analysts predict, following a fierce rally that has left these investors uncomfortably exposed to equities. Pension funds aim to have a diversified portfolio of bonds, stocks and other assets, such as private equity, and periodically reshuffle…

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