Group aims to recoup £1.4bn
November 29 2010, 3:00 pmPensions Management Magazine – November 2010
A report from Goal group claims £1.4 billion will be recouped from  by UK pension funds participating in US class actions connected to losses suffered during the recession.
UK pension funds collectively lost £21 billion on their US investments in 2008 according to the class action specialists.
However, if class action participation does not improve UK schemes will effectively forgo their right to recoup some £368m of recoverable funds.
Stephen Everard, managing director of Goal Group, said participating in class actions could assist schemes that are struggling to cut their deficits .
“Fund managers should be filing and participating in class actions now if they are to be included in what are likely to be the most sizeable settlements  over the next three to five years emerging from the economic crisis.”
