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PDFM FACES LOSS OF KENT'S£400M MANDATE

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Kent CC is to consider on Friday dropping PDFM as manager of£400m of the authority's£1bn pension fund, reports th...
Kent CC is to consider on Friday dropping PDFM as manager of £400m of the authority's £1bn pension fund, reports the London Financial News (p1).

The decision is one of many hanging in the balance for PDFM, which has recently suffered much publicity about its under-performance.

Pension funds which use PDFM are said to be worried about its policy of keeping nearly 15% of funds in cash.

Brent LBC recently sacked PDFM after it performed 5.1% below average over the year to March, and 1.8% below over three years.
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