UK - The trustees of the £1bn (€1.12bn) UK plumbing and mechanical services pension scheme has revealed it has reappointed JP Morgan as its global custodian.

Under the new mandate, JP Morgan will now also  provide fund accounting and performance measurement services.

The company said today the scheme is already part of JP Morgan's securities lending program, and has been a client since 1996.

The scheme currently has more than 660 employers and out of an employee membership totalling over 37.000, there are 6.700 who are actively contributing.

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