UK - Schroder Investment Management's sterling bond team has been appointed by Yorkshire Electricity Group to manage a £280m sterling bond mandate for its pension scheme.
Bob Griffith, group administrator of the Yorkshire Electricity Group said: We believe that Schroders' dedicated expertise in government, corporate and index-linked bonds makes it ideally equipped to manage a bespoke portfolio in accordance with our objectives.
Schroders manages £7.6bn in sterling bond assets. John Troiano, head of UK institutional business said: “This prestigious appointment is further testament to the reputation we have built in this asset class, and we greatly look forward to working with Yorkshire Electricity Group in the future.
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.