US - CalPERS has appointed three advisers to its absolute return strategy: Pacific Alternative Asset Management Company, 47°N Capital Management and The Rock Creek Group.
The advisers were chosen from 97 candidate companies during a selection process which took nine months.
Initial funding for the advisers will amount to $350m, but staff envisaged increased returns would offset the additional fees.
CalPERS chose the multiple adviser route, stating it would give exposure to a larger number of emerging absolute return funds, create a diversified portfolio and capitalise on each adviser’s strengths.
Capital for the Fund of Absolute Return Funds will come from global equity assets managed on a passive basis.
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.