UK - The £1.5bn Staffordshire County Council Pension Fund has put a £90m Asia Pacific (including Japan) equities mandate out to tender.
Invesco which currently holds two separate mandates for Japan and Asia (ex Japan) stands to lose both mandates. The latest tender is part of an overall review of its equity strategy that the fund is carrying out along with consultants Hymans Robertson.
Reg Smith, principal accountant at the fund, said: “Over the past year, we have been reviewing our investment management arrangement and we have tweaked it here and there. Most of the changes have been in equities.”
Late last year, the fund put out tenders for one £150m global equity mandate and two £200m UK equity briefs. Smith said that no new appointments have been made yet.
The tender notice said that the mandate had a +2% net out performance objective.
Deadline for tender is August 3, 2005.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.