NETHERLANDS - The Dutch pension fund of British American Tobacco (BAT) is set to tender an unspecified number of mandates within the next few months, according to Harry Corbyn, an asset manager at the fund.
Corbyn said that the EUR221.4m scheme might put mandates out to tender once it had finished looking at issues that had arisen as a result of a recent asset liability study. The BAT fund manager declined to reveal any further details.
BAT finished the study in November, and was reportedly looking at decreasing its fixed income portfolio by 10% and diverting the assets to equities. Rotterdam-based firm Ortec Consultants is the fund’s advisor.
The fund’s asset allocation, according to International Pension Funds and their Advisors, stands at Eurozone equities, 22% of total assets; International equities, 14%; Eurozone fixed income, 54%; and real estate, 10%.
By Geoffrey Ho
Industry experts are calling on the government to act quickly on new pensions dashboard legislation. The DWP is looking at how to do it amid Brexit constraints, writes Kim Kaveh.
An interactive and hands-free technology that allows savers to track how much they have invested into their retirement pots has been launched by Smart Pension.
The Lighthouse Pensions Trust has recorded an 84% surge in the number of employers signed up to its auto-enrolment (AE) provision.
Melrose Industries's UK defined benefit (DB) schemes had a £5.5m combined deficit at the end of 2016, its annual results have revealed.