Global

Schroder Pensions has won its first stakeholder contract from transport company P&O and UK engineering firm Caparo.

The Universities Superannuation Scheme (USS) in the UK has retained William M Mercer as actuarial and investment consultant.

Goldman Sachs is launching a multi-manager market independent hedge fund called GS Global Market Independent Partners (GS GMIP).

Frank Russell and DnB Investor, the mutual fund arm of Den Norske Bank, are to launch a multi style investment programme in Norway.

The £757m Cumbria County Council pension fund in the UK has dropped fund managers Phillips & Drew and retained Schroders Investment management following an overhaul of its investment strategy.

West Asset Management has won a $100m (£69m) high yield bond mandate from the $90bn (£62.4bn) Teachers Retirement System (TRS) of Texas pension fund.

Increased tax on the interest and other income of South African pension funds has contributed to a massive fall in the funds' net cash flow.

The newly-created Swiss Pensionskasse Poste may outsource an unspecified amount of its near CHF9bn fund later this year.

Electrocomponents' £180m UK based Pension Scheme has replaced Deutsche Bank Global Institutional Services with Northern Trust as its new global custodian.

Schroders has suggested that its pooled fund clients adopt more globally diverse bond strategies for UK pension funds.