 Online edition of India's National Newspaper Thursday, Oct 16, 2008 ePaper | Mobile/PDA Version |
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KOLKATA: Tata Steel on Wednesday issued a statement to scotch rumours on the state of Corus Pension Funds. The statement said that Tata Steel would like to clarify that the Pension Funds of Corus were in aggregate surplus and in excess of British pound sterling 500 million [$1 billion] as on June 30, 2008. The U.K. Pension Funds of Corus are significantly de-risked with around 70 per cent of the portfolio in debt-related instruments. Based on initial quarter-end assessment, the surplus as on September 30, 2008, is estimated to be higher than end-June, the statement said. The details of the Pension Fund performance would be disclosed at the time of the publication of the consolidated results of the company in November, it was stated.
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