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
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.