PPF to create transition panel
UK - The £800m (€1.2bn) Pension Protection Fund (PPF) wants to recruit several managers for transition of pension assets.
The fund's incumbent transition manager is State Street but as more and more assets are flowing into this UK pension lifeboat so the PPF wants a panel of transition managers to choose from, a spokesman explained.
At the moment, a number of around four managers is being considered by the PPF but that might change depending on the tender process.
Expressions of interests can be filed until July 20.