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One of the earlier references to this citation comes from [Thomas Fuller’s ](https://www.theparisreview.org/blog/2015/03/02/folk-wisdom/)1732 compendium, Gnomologia: Adagies and Proverbs; (Wise Sentences and Witty Sayings, Ancient and Modern, Foreign and British).
I’m not sure March 2017 lives up to this proverb. In fact, the exact opposite is true: In like a lamb, out like a lion.
We live in extraordinary times and the need for great leadership is as urgent as ever: President Trump’s first 100 days, the rise of right-wing Populism, a potential second Scottish Independence Referendum, Brexit, and as of the very end of March – the return of inflation and equity market volatility!
As Theresa May formally triggered Article 50 last week, Brexit was clearly on the mallowstreet community’s mind in March.
mallowstreet Top 10 Search Terms, March 2017
2. Fiduciary Management
4. Insurance Linked Securities
5. Advice and Guidance
6. The Budget / Autumn Budget
7. Cashflow / Negative Cashflow
8. Member Communications
10. Risk Management
But Brexit wasn’t the only topic occupying pension fund agendas. Some of the other key questions from the mallowstreet community in March included:
• [Fixed Income: Where Next?](https://secure.mallowstreet.com/Forum/Thread/71/14545)
[• What’s the hardest bit of pensions to explain?](https://secure.mallowstreet.com/Forum/Thread/1/14513)
[• ESG and SRI – Trustee issue or not?](https://secure.mallowstreet.com/Forum/Thread/1/14546)
[• Investing in infrastructure – thoughts for pension funds](https://secure.mallowstreet.com/Forum/Thread/1/14481)
The next two years of Brexit negotiations will dominate headlines, increase uncertainty and volatility, and likely create investment opportunities for those pension funds that can move quickly. It is important to keep an eye on the background as well as what is currently sharply in focus.
If anything, the business of running or advising a pension fund has just gotten/become? a bit harder. Please continue to ask your questions to your peers, and stay up-to-date with pensions developments on www.mallowstreet.com.