(14) conveniently, the profile formula of PDFM
should be transformed as
This paper has been developed from experiences and evaluation data emergent from an inaugural PDFM
held in Victoria and South Australia (Hardy & Bolster, 2008).
Investors are furious because Gartmore and PDFM
, which between them control pounds 90 billion of the country's pension fund money, are refusing to invest in the stock market, preferring to sit on a large cash holding instead.
Sources said PDFM
would cast its vote in favour of Bank of Scotland taking over NatWest, despite the fact that it offers less cash than the bid of its northern rival.
So-called value investing, which has caused major under-performance for the large fund management houses over the last three years, could now make a comeback just as its supporters such as PDFM
and Schroders lose clients.
Fund manager PDFM
seems to be attempting to extricate itself from years of underperformance by seeking bids for its investments.
Albright's biggest shareholder, the increasingly pro-active PDFM
, threatened to back Rhodia unless an offer of at least 160p per share emerged.
refused to comment on the outcome of the meeting.
The offer by January Investments Limited, which is backed by Mr Green and the reclusive Barclay brothers, represented a premium of 3.3 per cent above Sears' market value on Wednesday and the group's biggest shareholder, fund manager PDFM
, has already und ertaken to accept the offer.
But Mr Green has already secured the support of 22-per-cent shareholder PDFM
for his bid.
However, with City institutions Schroders and PDFM
, who hold a total of 37 per cent of the shares, reportedly ready to back the deal, that would appear to be a mere formality.
But a PDFM
source stressed that Mirror did not have to do a deal.