Equities, fixed income, property and alternatives. This has been the standard way of breaking down portfolio allocations for years.
Funding deficits is still seen by trustees and sponsors as the most significant risk facing schemes, Metlife research shows.
More than eight in ten pension funds take one month or longer to make investment decisions, according to a survey carried out by Schroders.
Schemes looking to maximise returns in a low interest rate environment must work closely with investment banks to boost member outcomes, Barclays chief executive Bob Diamond says.