US - The Teachers' Retirement System of the State of Illinois (TRS) has hired three managers for mandates totalling US$330m.
Trustees also hired Putnam Investments to run a $90m small-cap international equity portfolio, 2% of the international equity portfolio, according to an announcement from the company.
Boston's mandate was funded by tapping an interim Russell 2500 growth optimized fund, Cramer's hire was funded from an interim Russell 2500 value optimized fund and Putnam's portfolio was provided from an interim optimized EAFE index fund.
In late February, trustees at the $29.1bn pensions fund announced it had fired two managers with mandates totalling $555m and put another five, with portfolios worth a combined $2.62bn on watch, as it reviews its investment strategy and managers ahead of an April asset allocation review. (Globalpensions.com; 23 February 2009).
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.