The Hay Hall engineering group in Birmingham, UK has awarded Northern Trust Global Investments (NTGI) a £6m multi-manager mandate to manage its overseas equities investments.
Tony Earnshaw, NTGI’s managing director of multi-manager products (London) said the win was indicative of the swing in the marketplace, where it is becoming increasingly common for UK and European pension funds to switch away from a single manager fund into a multi-manager fund.
“As one of the leaders in this area of fund management, Northern Trust is well placed to benefit from this change,” he said.
Hay Hall is advised by KPMG pensions.
By Janet Du Chenne
The Next Generation Pensions Committee is on a mission to promote and encourage younger voices in the industry. Kim Kaveh looks at its key objectives
This week's top stories included an analysis finding the cost of equalising guaranteed minimum pensions in schemes could hit FTSE 100 profits by up to £15bn.
Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.