William M Mercer has ended a bad week on a positive note in the UK pension fund industry by being appointed actuarial consultant for the London Borough of Islington Pension Fund.
This week William M Mercer suffered a series of losses when it was dropped from the Alfred McAlpine Pension Plan, the ABB Group pensions plan and the University of Wales Pension and Assurance Scheme (1978).
The London Borough of Islington Pension Fund has 13,000 members, including 5,500 active members and a fund size of £420m.
The previous consultant for the fund was Watson Wyatt.
By Janet Du Chenne
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