UK - The Port of London Authority Pension Fund (PLAPF) has hired AXA Investment Managers for a £250m fixed income mandate.
The mandate, to be managed by AXA IM’s sterling-grade fixed income team based in London, will look to outperform a scheme specific benchmark consisting of 90% fixed coupon gilts and 10% index-linked gilts. The consultant advising PLAPF was AON.
AXA IM will be paid on a performance-based fee.
Commenting on the mandate, Alastair Cuming, head of UK Institutional Business, AXA IM, said: “We have taken on a number of such mandates in the past year.”
He also claimed that the manager was increasingly short-listed on consultancy buy lists.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.