Kent ‘disappointed’ over Woodford fund repayment schedule
0Kent County Council says that the winding up of the Woodford Equity Income Fund will not impact on its ability to pay members.
On 15 October, the council was informed that the fund would be wound up in January 2020, with investments repaid from the fund’s assets.
In a statement, the council said: “This is later that we had previously hoped, however, the delay in recouping the Kent Pension Fund’s investment will not impact the fund or its ability to pay members.”
It said the Woodford investment represents around 4% of the council’s total investments which were valued at £6.432bn on 30 June 2019.
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