News: Lewisham slashes UK equities.

Pensions Week | September 25, 2006 | Copyright

Byline: Kalpana Fitzpatrick

A large local authority pension fund is cutting its exposure to UK equities following poor performance from two of its fund managers.

The GBP540m Lewisham Council pension fund invests 42% in UK equities and 27% in overseas equities, but is considering an equal split between the two.

The scheme said it is considering its options particularly because of the "poor" performance of its UK equities managers, Capital International and UBS Asset Management.

At the quarter ending June 30, 2006, Capital International, ...

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