Kent Pension Fund - Woodford Equity Income Fund statement
A statement about the KCC Pension Fund
Kent County Council’s pension fund holds an investment in the Woodford Equity Income Fund. Trading in this equity fund has been suspended since June 2019, and on 15 October 2019 we were notified that the fund would not be reopened and instead would be wound up in January 2020. Following this, winding-up investments will start to be repaid to investors from the fund’s assets. This is later that we had previously hoped, however, the delay in recouping the Kent Pension Fund’s investment will not impact on the fund or its ability to pay members.
The Woodford investment represents around 4% of the council’s total investments which were valued at £6.432bn on 30 June 2019. The overall value of investments grew by £221m (3.6%) over the first quarter of 2019/20. The Kent Pension Fund is one of the top 10 largest Local Government Pension Schemes in the country and is one of the top performing.
Last updated 17 October 2019.