UK - Lex Service Pension Scheme has appointed Aegon Asset Management to manage £57m in bonds.
The money is being invested in sterling corporate bonds and will be managed by Daniel McKernan, head of credit research at Aegon.
The trustees of the Lex Service Pension Scheme were advised by Mercer Investment Consulting.
Mandate wins for Aegon last year totalled more than £680m – a 65% increase on the previous year.
The fund manager currently has more than £15bn of fixed income assets under management, including £13bn in corporate bonds.
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).