Would you want your pension invested in companies in bankruptcy proceedings and junk bonds? One of the funds used by the BF&M golden accumulator pension scheme invests in undervalued stock, distressed companies and risk arbitrage.

According to Matthew Haynes, portfolio manager of both the Mutual Beacon and European Fund, it's not risky because his team do their homework.

The results of the Mutual Beacon fund seem to back up his strategy: "Since March of 200, the S&P