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.
The secretary of state for work and pensions has told MPs clawback and avoidance measures could be imposed for the people responsible for driving Carillion over the cliff.
Occupational pension provision has continued to grow in value, but there remains large variance in incomes across the pensioner age group, according to latest government data.
Defined benefit (DB) schemes could have an aggregate surplus by 2021 under Pension Protection Fund (PPF) projections, its strategic plan for 2018 to 2021 reveals.
Investment consultants are failing to recommend products that outperform net of fees, the Competition and Markets Authority (CMA) has said as its investigation into the market continues.