UK - The £1bn (US$1.47bn) Oxfordshire County Council pension fund has appointed Peter Davies as independent adviser to the scheme.
Davies was appointed after the fund's incumbent independent investment advisor decided to retire after 17 years service with the scheme.
The contract will run for five years, with the option to extend for a further five years should the fund desire to do so.
According to the fund's latest annual report, as of 31 March 08, its portfolio was divided 28.8% UK equities, 30.6% overseas equities, 9.4% UK Fixed Interest and 2.0% Overseas Fixed Interest.
In terms of alternative investments, the fund has a considerable allocation to a diverse range of assets, including a 3.4% allocation to a tactical asset allocation fund, just over 3% in hedge funds, and over 6% each in private equity and property.
Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.