UK - The WM Company, a performance measurement organisation, has welcomed the decision of Mercer to have its manager recommendation figures verified by an independent third party.
Peter Warrington, executive director, said: “Consultants are playing a critical role in the selection of pension fund managers and it is important that their recommendations are subjected to independent measurement.
“However, it is disappointing that there seems to be a continuing resistance in the consultant community to the concept of measurement. We hope that this will change, allowing the whole process to become more transparent.”
WM’s consultant monitoring service measures the actual performance of managers who are on consultants’ buy list, for any given mandate/benchmark. The difference between the managers’ returns and the benchmark returns give the value of the consultants’ manager selection recommendations.
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This week's edition of Professional Pensions is out now.
The government is in talks with the UK and Irish pensions regulators over how to protect members of cross-border schemes in the event of a no-deal Brexit.
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