UK - Energy supply company BG Group has appointed Abbey National Asset Managers to a £45m active UK equity brief.
The portfolio is part of a £250m defined benefit scheme that was set up by BG on July 4, 2001. The money was transferred in December last year having been managed in transition by State Street, the scheme’s passive managers. The scheme is currently worth nearly £230m.
In September last year, Capital International won a £62m active balanced mandate. Around the same time Northern Trust was appointed custodian.
Watson Wyatt acts as consultant for the scheme.
By Luke Clancy
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.
The equalisation of guaranteed minimum pensions (GMPs) is at least two years away from being completed, and could take longer than four years for some schemes, a poll has found.
The Pensions Regulator will consider if schemes should be required to have professional trustees and assess the case for greater regulation of administrators and system providers, PP can reveal.