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.
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.
Tim Sharp says the government has missed some big opportunities to help workers in the DB white paper.