UK- Goldman Sachs Asset Management has been hired to run a £200m currency mandate for the Superannuation Arrangements of the University of London (SAUL) trustees pension fund.
The mandate will overlay the overseas equity assets in the SAUL portfolio and seek to add return by exploiting inefficiencies in global currency markets, Goldman Sachs said.
Oliver Bolitho, head of UK business development at GSAM said: We are delighted that SAUL has chosen to select our team for this important mandate. Currency is a very attractive asset class for mature pension funds who are looking to improve returns. The currency markets offer significant and consistent opportunities for managers to add value.
SAUL is the centrally administered pension scheme for non academic employees of the University of London.
The thirteen strong GSAM currency team is based in London and New York and headed by Philip Moffitt. The GSAM currency process combines a quantitative and fundamental research process covering 36 world currencies. The specialist currency team manages in excess of £5bn in currency assets.
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The Pensions Advisory Service (TPAS) helped 187,000 people in 2017/18, a 9% fall on the previous year despite setting up special helplines for specific scheme members.