UK - Schroder Investment Management has lost a £215m active Far Eastern equity brief with the London Regional Transport pension fund to Nomura Asset Management UK Ltd.
The £3.2bn defined benefit scheme said the change in management followed a performance review by the fund’s trustees.
Commenting on the appointment, Mark Roxburgh, Nomura’s head of marketing and client service for Europe said:
“We are clearly delighted to have been appointed by LRTPF which we believe is an excellent endorsement of our skill set across the Far East and we are very much looking forward to working with them.”
Sue Timbrell, director of pensions and LRTPF secretary said: “The trustees decided to appoint Nomura as the completion of an exercise to review our existing manager for this part of the world.
“We were impressed by the track record and resources Nomura demonstrated and their overall commitment to these markets.”
Mercer Investment Consulting advised LRTPF on the manager selection process.
Meanwhile, Nomura announced recently that it would be implementing a “soft close” policy between October and December 2004 to ensure its level of client service and administration was maintained for both existing and new clients in Europe.
Professional Pensions is looking to update its list of pensions master trusts in the UK ahead of authorisation. Can you help?
RPMI Railpen is in the next step in the journey towards achieving cost disclosure. Victoria Bell tells Stephanie Baxter about taking part in the Cost Transparency Initiative's pilot phase
Interserve's numerous defined benefit (DB) schemes have retained a sponsor link after the company entered into administration and was sold.
Chris Hannon has been named chairman of the Railways Pensions Trustee Company after a unanimous vote of approval from its board last week.