There has been a lot written recently on the way the UK government has forced Local Government pension funds into pooled vehicles so that they can draw on their cash to fund infrastructure in a way that could not be done with individual funds. One thing though that they have had to concede is that not all properties should be pool managed, and a concession has been made. Long term growth and long term income are what the funds need to match liabilities, and some might say that the pooling, while making it easier for funds to tap into that long term income, could be seen as a political leaning on the funds' trustees to make up a deficit in central government funding - but to borrow from Francis Urquhart in the original "House of Cards" I could not possibly comment.