UK - The Cumbria Pension Fund has suffered from long-term underperformance, an audit commission best value inspection has revealed. In a report published this month inspectors noted that average performance in the 10 years from 1991 to 2000 was in the bottom 5% of local authority pension funds.
The £750m fund achieved a “no star” rating from the commission and came 99th out of the 100 funds over that period. According to the review, the scheme is now improving after moving from a balance...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership for 12 months, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
