By 2068, the UK is expected to have at least 500,000 citizens aged 100 or older, with many more in their 70s, 80s and 90s. For pension funds and other institutional investors, the country's ageing population will have at least one clear consequence: a growing need for long-dated assets to match their projected requirements for retirement income.
So it is not surprising that the UK Debt Management Office (DMO) has begun, in recent years, to receive requests from investors for exceptionally long-dated gilts.
