UK - The £620m (US$1.23bn) London Borough of Haringey pension fund has appointed Hewitt and Hymans Robertson to provide actuarial services and investment advice.
According to the latest annual report, the fund had a 76% funding level. Following a strategic review, the fund chose to alter its asset allocation, reducing its UK equity holdings from 43% of the portfolio to 30% and increasing its international equities holdings from 27% to 35%.
It also introduced a 5% global market cap mandate and a 5% allocation to private equity, introduced an active currency overlay, passive currency hedging and increased its property allocation from 6% to 10%.
An unnamed London-based employer has been hit with a £350,000 fine from The Pensions Regulator (TPR) for failing to fully comply with its pension duties.
XPS Pensions has enhanced its fiduciary management selection service in order to help trustees through initial selection and mandatory re-tendering.
One in five defined benefit (DB) schemes are in The Pension Regulator's (TPR) weakest two categories, analysis by Hymans Robertson has revealed.
State Street Global Advisors (SSGA) has been selected as the first index manager for the Asset Management Exchange's (AMX) passive funds.