UK - The £717m Clwyd pension fund has dropped Baring Asset Management as manager of two briefs worth a total £50m for performance reasons.
A spokesperson for Flintshire County Council, the lead authority for the Clwyd pension fund, said it was re-tendering for managers for its Asia Pacific (ex-Japan) and global emerging markets equities portfolios, valued at around £25m each.
When queried about the decision to re-tender, the spokesperson said the fund was replacing Barings because current performance was “below target”.
The deadline for tender is 15 December.
The British Medical Association (BMA) has warned chancellor Philip Hammond to reform the NHS pension scheme rules or doctors will reduce their working hours.
The lifetime allowance should be scrapped and replaced with a lower annual allowance, last week's Pensions Buzz respondents said.
Action for Children Pension Fund has outsourced its pensions administration to Trafalgar House.