UK- The £3bn London Pension fund Authority has appointed its second independent advisor in three months following the publication report of Paul Myners’ report.

Peter Moon, chief investment officer at the £22bn Universities Superannuation scheme, will now advise the LPFA board on its investment strategy. Moon will attend the quarterly board meetings and review the monthly reports from the fund managers.

The LPFA says publication of the Myners report led it to consider employing independent investment advisors to supplement the fund’s board and to look at the advice coming from the external investment managers.

In April the LPFA appointed David Rough, the former director of investments at Legal & General, as its first independent investment advisor.

Moon’s role will mirror that of Rough’s but Amanda Walker, head of finance and investment, says different backgrounds mean they will complement each other.

“David was chief investment officer at Legal & General so his background is as a provider while Peter Moon, as well as doing investment management in house, has very much a client role. It’s very good to have that balance,” she says.

Chairman Neil Newton said: “I am delighted that we have been able to attract a second key figure from the investment industry as an advisor. With his appointment the board has a well-balanced structure and high level of expertise and advice to deliver its investment responsibilities.”

Other schemes including Essex and Strathclyde local authority funds have taken on independent advisors.