UK - The £250m Parliamentary Contributory Pension Fund is to appoint up to three fund managers once it has completed a review of its investment strategy.
The PCPF – which is considering whether to appoint specialist or balanced managers – says it will consider expressions of interest from all investment managers at this stage.
While it refused to divulge the identities of its two current managers, it did say that it will hold a beauty parade of 12-15 firms which may include its current managers.
The PCPF is also in the process of choosing a new consultant to help with the manager selection process. Its present consultant is Hewitt Bacon & Woodrow.
Earlier this year, the government came under heavy fire for boosting the value of MPs’ pensions by 25% and for trying to bury the news on the same day as the Chancellor’s three-year spending review.
The scheme currently offers MPs a full two-thirds pension for 27 years’ service, instead of 33 years previously.
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The £30bn local government pension pool has appointed Quoniam and Robeco to manage an active equity portfolio worth around £400m.