UK - North Yorkshire County Council has placed two mandates out to tender, worth over £300m (US$589m).
As Global Pensions reported in March (www.globalpensions.com; 26 March 2008), North Yorkshire CC dropped BGI as investment manager for its global equities mandate because of concerns over disappointing results.
The equities mandate will run for 6six years, with the potential to be extended for a further three years.
The fund is divided 77% equities and 23% bonds, although it is not yet clear whether the allocation to property represents a new area for the scheme.
North Yorkshire CC was unavailable for comment.
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.