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.
The Pensions and Lifetime Savings Association (PLSA) has announced it will shrink its board by more than one-third as part of a governance overhaul to make it "agile and more appropriate".
Smaller FTSE 350 defined benefit (DB) schemes were nearly 15 percentage points less well-funded than larger schemes in 2017, according to a Goldman Sachs Asset Management (GSAM) analysis.
The advent of collective pension systems could help the UK avoid demographic challenges which will make it "impossible" for society to help savers in retirement, experts say.