US - The US$13.1bn San Francisco Employees Retirement System (SFERS) has awarded Ashmore Investment an emerging market equities mandate worth $120m. Ashmore head of research Jerome Booth (pictured) said there was strong demand from institutional investors for emerging equity products, particularly from larger institutional investors.
“The key to investing well in emerging markets is active management of country risk,” he said.
Booth added that pension funds were being driven to invest in emerging markets by unfunded liabilities, unappetising returns in major markets and global liquidity.
Angeles Investment Advisors was the consultant during the search process.
SFERS were not immediately available for comment.
Some of the UK's biggest pension schemes will be forced to report on climate risk in line with recommendations from the Taskforce for Climate-related Financial Disclosures (TCFD).
TPT Retirement Solutions has launched a pension scheme for the education sector which offers schools both defined contribution (DC) and defined benefit (DB) pension provision.
The People's Pension has revealed plans to overhaul its charging structure, cutting fees and returning profits to members with an aim to help people save more money for retirement.
Data consultancy ITM has appointed Akash Rooprai as head of client management to lead its de-risking business.