Oxfordshire gives fee and performance numbers for its pension fund
0Oxfordshire Local Pension Board has been provided with detail on its fund’s expenses and performance for the year to end-March 2018.
The report prepared by director of finance, Lorna Baxter, is in response to a request for the information from one its scheme member representatives to break down the investment costs presented in the fund’s annual report.
Fees of £8,129,000 were paid out to fund managers, which compared with a total mandate size of £2.3bn gives an average fee of 35bp.
Baxter went on to say that the fund as a whole outperformed its benchmark by 1.7%, which was equivalent to £39m in cash terms.
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