Do you belong to a pension fund? Who is your fund manager? What was the average return your board of trustees proclaimed to the masses for the year ending June 2010?

Stock exchange in Kenya has evidently undergone some reforms: from CMA, CDSC, players, NSSF etc. A story on Business Daily makes me wonder whether the so called 'fund manager' is standing on hallowed ground?

When times were bad last year, published results for fund managers still showed healthy pickings because fund managers are paid in good times and bad. Retirement Benefits Authority badly need to report to us average return for pension schemes.

If your company sponsored scheme isn't showing these returns per asset class, someone should be fired:

year end June 2010
Equity............33.8% return
Bonds/TBill.......31.6% return
Property..........4.7% return
Offshore..........16.6% return

survey of 124 schemes with Kes 250b under management
http://www.businessdaily...0/-/bo1pov/-/index.html

I belong in an employer pension fund. Being a defined benefit fund, the employer wields immense power and hence the issue of replacing the fund manager, bad as they are, a nullity.

My opinion was directed at individual investment with a fund manager not employee group pension scheme

The highest return one gets out of pensions is the tax saved in the first 20K of contribution. I save 20K but only 14k gets deducted out of my payslip. That is a free 6k from the government every month.

The returns I get from the fund managers at year end are nothing to write home about. (last year 8% - below inflation)