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Comet appoints Punter Southall as consultant

UK - Punter Southall & Co says it has been appointed as actuaries and consultants to the 100 million-pound (149 million-euro) pension fund of retailer Comet Group.

“Punter Southall won the mandate on the strength of its service led approach, reputation and technical systems,” the firm said in a statement.

The fund, launched in April after the demerger from Kingfisher, has an initial membership of 5,300.

Punter Southall quoted Comet pension manager Chris Parrott as saying: “We were impressed, and continue to be impressed, with Punter Southall’s innovative thinking. Their advice and assistance in the implementation of our new pension arrangements has been invaluable.” He could not be reached directly.

Punter Southall principal Steve Leake said: “This appointment is further proof of the ongoing growth across the company. We are delighted to have been chosen by such a leading organisation and look forward to working closely with them.”

Punter Southall & Co is part of South Africa-based Sanlam Financial Services.

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