Pension board may sack two fund managers

THE board of the National Pension Reserve Fund will meet later this month to discuss the possibility of sacking two of its fund managers.

One of the managers, Putman Investment managers, which oversees 237 million of cash on behalf of the NPRF, has been dragged into a financial scandal following accusations of fraud in the US and improper trading.

The board of NPRF, which has invested 8.4 billion of taxpayers’ money to pay for public pensions, will discuss the issue of dumping the fund manager when it meets for its regular board meeting later this month