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.
Frank Field is to warn Sir Philip Green not to sell his Arcadia business without ensuring defined benefit (DB) pensions are adequately protected, PP can confirm.
Some 79% of people would like to see stricter rules and checks to ensure pension pots are secure, according to a survey by the Pensions and Lifetime Savings Association (PLSA).
An analysis of IGC annual reports finds some lacking in information on value for money, costs and charges, and investment performance. James Phillips explores the findings
A new cost transparency solution is being developed for pension schemes by a financial services technology firm.