Pension fund withdrawals to hit F&C in Q3

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GLOBAL - Heavy outflows arising from the loss of lucrative pension fund contracts loom in the year ahead for F&C, which saw assets under management slide from £131bn at year-end 2005, to £107bn in the first half of 2006.

In the half year report, chief executive Alain Grisay said the firm had been notified that its £1bn property portfolio with the Electricity Supply Pension Scheme would be terminated, effective from...

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