UK - The £160m British Waterways (1990) Pension Fund has appointed Frank Russell Company to manage half of its assets.
Merrill Lynch Investment Managers has lost a balanced mandate and Britannic Asset Management an equities mandate as a result of the appointment.
The fund will invest £80m in Russell’s multi-manager equity and bond funds.
The British Waterways fund was advised by Watson Wyatt.
PP has analysed the accounts of the biggest pension consulting firms and recorded the turnover (revenue) in their most recent accounts. The full leaderboard is below…
UK defined benefit (DB) schemes have increasingly undertaken benefit reviews over the last four years resulting in an acceleration of scheme closures, Aon research finds.
Contributions are no longer sufficient to meet regular payments for three-quarters of small- to medium- sized defined benefit (DB) schemes, Buck analysis finds.