UK - The £9.8bn (US$19bn) Strathclyde Pension Fund announced it has reappointed Northern Trust as master custodian.
The £100m Strathclyde Pension Fund Number 3 Fund, a subsidiary of the main Strathclyde fund, has also appointed Ruffer LLP as a long-only absolute returns manager with a £15m mandate.
The Number 3 Fund is closed to new members, but includes former employees of Strathclyde PTE who transferred to Strathclyde Buses in October 1986.
The Number 3 Fund runs alongside the £9.8bn Strathclyde Pension fund.
As Global Pensions recently reported (www.globalpensions.com; 6 May 08), the Strathclyde Pension Fund has launched a comprehensive review of its investment managers, making sure they conform to the fund's social and ethical investment guidelines.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers