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PENSION FUNDS 'OUTSTANDING'

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Council pension funds achieved an average return of 17.5% in 1993-94, according to performance measurement company ...
Council pension funds achieved an average return of 17.5% in 1993-94, according to performance measurement company WM.

It described the results of the 98 pension funds, with assets of around £44 billion, as 'outstanding'. But councils were slightly behind private sector UK pension funds, which returned 17.7%.

Over the past 10 years councils are ahead of the private sector with an average return of 14.2%pa against 13.9%. This is because they were less exposed to the property price slump, WM says.

In real terms the return achieved by council funds was 15.2%, which outstrips the average performance over the past 10 years of 10%.

'These are very healthy returns achieved despite market turbulence in February and March,' said WM marketing director Peter Warrington.
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