UK - £66.5bn Henderson Global Investors was awarded a global enhanced index equity mandate by trustees of the Smith & Nephew UK Pension Fund worth £120m. The assets will be invested via funds covering the UK, Asia Pacific, Japan, Europe and North American equity markets, and will aim to outperform the relevant indices by 0.75% per annum. Les Smith, a Trustee of the Smith & Nephew fund, said in a release they were looking for a low risk strategy for their global equity allocation.
Smith & Trustee were unavailable for any further comment. Meanwhile, Henderson has launched an open-ended European property fund of fund, which will provide institutional investors with access to a diverse portfolio of specialist country and sector funds based throughout Europe.
The fund, Henderson Indirect Property Fund (“HIP”). is structured as a Fonds Commun de Placement vehicle domiciled in Luxembourg.The fund will have an initial target fund size of €500m.
Henderson said the Fund has nearly €200m to commit and will close on first investments early in March this year to invest before raising and investing further capital later in 2006.
By Damian Clarkson
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers