CGNU, the merged entity of Norwich Union and CGU, has revealed it has made a £15m error with the £750m General Accident Managed Funds Diversified Fund, a pooled pension fund vehicle  available to institutional investors.

The incident happened as a result of an error in unit pricing, which caused the fund to be overvalued by £15m. The mistake occurred in June and July but was not noticed until last month.

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CGNU makes £15m pension fund error

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