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POOR PERFORMANCE BY BIGGEST PENSION FUND MANAGERS

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The big four pension funds in the UK have all underperformed their rivals in the first three months of the year, fo...
The big four pension funds in the UK have all underperformed their rivals in the first three months of the year, following on from a disastrous 1997, reports The Financial Times (p23).

The performance measurement company Caps found that in the league table of pooled funds Gartmore come bottom. PDFM came fourth from bottom, Schroders came 11th from bottom and Mercury, seventh from bottom.

Pooled funds, where money is managed on behalf of several different pension funds, act as shop windows for fund managers and have caused particular embarrassment to the largest providers, which dominate the UK market.

Pension fund consultants said the soon-to-be-published figures could be the last straw for some clients.
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