Mandates – Page 35
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Somerset hires replacement manager for UBS Asia-Pacific mandate
Local authority schemes finds replacement manager over year after dropping UBS for underperformance
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Swedish roundup: AP7, Church Pension Fund, Brummer Life
SWEDEN – AP7 buffer fund awards range of alpha equity, currency mandates.
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UK roundup: Mercer, JLT, Buckinghamshire Pension Fund, BNY Mellon
UK – Consultancy laments ‘yo-yo effect’ of markets as deficits rise despite increased assets.
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UK roundup: PPF, NAPF, Towers Watson, RBS, Highland
Deficits reported by defined benefit schemes increase to record highs, says PPF.
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Camden pension fund set to award first hedge fund mandate
Scheme remains cash-flow positive despite increased numbers of deferred members after redundancies.
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UK roundup: Gwynedd, PIC, DENSO, Deutsche Börse, Club Vita
Pension Insurance Corporation completes £200m buyout for scheme still open to new accrual.
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Swedish roundup: Swedbank, Nordea, Alecta, Mercer
Swedbank follows in Länsförsäkringar’s footsteps in closing its guaranteed pension product.
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UK roundup: LSE, PIC, Somerset, BNY Mellon, PensionsFirst
Pension fund for London Stock Exchange agrees £200m buy-in with Pension Insurance Cooperation.
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UK Roundup: BT, Islington
UK – BT yesterday announced a £1bn (€1.1bn) reduction in the BT Pension Scheme’s (BTPS) deficit, while also indicating it would fight a recent decision by Ofcom barring it from increasing wholesale prices to close the shortfall.
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UK Roundup: The Pensions Regulator, ITN, Shropshire
UK – The Pensions Regulator has published new guidance on index-linking to the consumer price index (CPI) that could see pension schemes forced to pay their deficit sooner than previously agreed.
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Tesco continues property deals with pension funds
[17:05 CEST 06-10] UK – Tesco has formed a fourth joint venture with a UK pension fund to sell and leaseback property assets in an effort to release value from its property portfolio.
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Barnet considers search for custodian
[16:50 CEST 27-08] UK – The London Borough of Barnet is preparing to tender for global custodian services for its £481m (€546m) pension scheme for the first time.
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Lincolnshire seeks global equity manager after strategy review
[16:40 CEST 17-08] UK – Lincolnshire County Council has initiated a tender search for one or more managers to run a £200m (€231.9m) global equity portfolio for its local government pension scheme, following a review of its asset allocation strategy.
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Devon outsources assets to four new managers
[16:30 CEST 31-07] UK – Devon County Council has appointed four new investment managers to its £1.87bn (€2.19bn) pension fund following a decision last year to outsource a large proportion of its in-house managed assets.
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NDA awards Deloitte actuarial contract
[16:50 CEST 30-07] UK – The Nuclear Decommissioning Authority has appointed Deloitte Total Rewards and Benefits to provide actuarial advice on the pension arrangements that fall within the organisation’s remit.
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East Sussex tenders for three managers
[16:55 CEST 28-07] UK – East Sussex Council is tendering three investment manager mandates for its £1.39bn (€1.6bn) pension fund.
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Hounslow awards admin contract to Capita
[16:50 CEST 28-07] UK – The London Borough of Hounslow has appointed Capita Hartshead to administer its £393m (€454.9m) pension fund and provide advice on scheme regulations.
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Suffolk suspends transition manager search
[17:05 CEST 24-07] UK – Suffolk County Council has confirmed it has suspended the procurement process for a transition manager after it had problems with offering the contract on a contingency basis.
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Kingston finalises restructuring with eight manager hires
[16:40 CEST 22-07] UK – Eight new investment managers have been appointed by the Royal Borough of Kingston-Upon-Thames as part of the restructuring process of its £278.7m (€322.2m) pension fund investment portfolio.
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Barnett Waddingham appointed LPFA actuary
[16:30 CEST 13-07] UK – Barnett Waddingham has replaced Hymans Robertson as the actuarial services provider to the London Pension Fund Authority (LPFA).