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Fujitsu taps SLI for UK equities

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  • Fujitsu taps SLI for UK equities

UK - The £1.9bn (€2.1bn) UK defined benefit (DB) pension fund of Japanese computer manufacturer Fujitsu has appointed asset manager Standard Life Investments for a £90m UK equity portfolio.

SLI told IPE it is a new mandate and said the appointment followed a tender procedure involving a number of investment houses. Fujitsu could not be reached for comment.

Elsewhere, Punter Southall has been appointed to provide actuarial and investment advice to a new DB scheme created for the Rheidol Hydro-electricity Power Station, which is owned by Statkraft Energy, a subsidiary of the Norwegian electricity company Statkraft.

The DB scheme has been set up as a result of an asset swap between E.ON and Statkraft, with active members transferring from the E.ON Group of the Electricity Supply Pension Scheme.

The firm said it had also been appointed to provide actuarial, administration, communications and investment advice to the pension fund of QVF Process Systems and  to the DB scheme of the Birmingham Assay Office.

Punter Southall replaces Aon as actuary and Xafinity Paymaster as administrator with QVF, and HSBC Actuaries and Consultants and DBC at the Birmingham Assay Office scheme.

QVF is part of the De Deitrich Process Systems Group, a high performance provider of equipment and services to the chemical industries, while the assay office tests and hallmarks precious metal items as required by the UK Hallmarking Act.

The combined assets under management for the three schemes are £30m, according to a spokeswoman for Punter Southall.

If you have any comments you would like to add to this or any other story, contact Carolyn Bandel on +44 (0)20 7261 4622 or email carolyn.bandel@ipe.com

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  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
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    Closing date: 2019-06-28.

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