Investment

Around a quarter of asset manager signatories of the National Association of Pension Funds' (NAPF) Stewardship Code have completed the body's disclosure framework since its October 2013 launch.

Towers Watson has appointed Ed Francis as head of investments for Europe, the Middle East and Africa (EMEA), succeeding Chris Ford.

Aerion Fund Management, the in-house fund manager for the National Grid UK pension scheme, has appointed Berenberg to manage a £3.5bn active currency overlay mandate.

Defined benefit (DB) pension schemes are more satisfied with their investment consultants (83%) than defined contribution (DC) plans (79%), according to the National Association of Pension Funds (NAPF).

The number of active members of defined benefit (DB) schemes who have contracted out of the additional state pension fell between 2008 and 2012, says the Office for National Statistics (ONS).

State Street Global Advisors (SSGA) has launched a range of target date funds for defined contribution (DC) investment.

British Polythene Industries (BPI) is to restructure a property-backed funding partnership with its scheme after an intervention from the Financial Reporting Council (FRC).

London Borough of Croydon Pension Fund has reappointed BNY Mellon as custodian.

The Pensions Regulator (TPR) has defended its draft guidance on defined benefit (DB) funding after the Trades Union Congress (TUC) and Confederation of British Industry (CBI) criticised the code.

The National Union of Journalists (NUJ) will appeal the Pensions Ombudsman's (PO) decision that the BBC did not breach its implied duty when putting in place an annual pensionable pay cap of 1%.