UK - Baring Asset Management has been appointed by the Mitsui Babcock Pension Scheme to run a £86m segregated mutli-asset diversified growth mandate.
The targeted mandate has a returns target of inflation plus 5% within set risk parameters.
Mitsui Babcock is a UK-based multi-specialist energy services company operating in the thermal power, nuclear, petrochemical, oil & gas and pharmaceutical industries.
It recently announced its parent company, Mitsui Engineering & Shipbuilding, had agreed to sell it to Doosan Heavy Industries (UK) Limited, for JPY 20 billion (approx £100m).
Completion of the deal is expected by January 2007.
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.