UK - The £1bn Royal Insurance Group Pension Scheme has put all its assets up for tender.
But the scheme has denied reports that they will be managed by Barclays Global Investors – although the manager is understood to have won a large mandate.
The move follows the sale of Royal & SunAlliance Investments, which used to manage the assets in-house. R&SA’s investment arm was taken over by Friends, Ivory & Sime to form Isis Asset Management, which is now pitching for several of the mandates.
The Royal Insurance Group scheme is following the industry trend away from single balanced managers to the use of a range of specialist managers.
The pension fund’s trustees met this week in London and are expected to announce a decision by the end of the month.
The Next Generation Pensions Committee is on a mission to promote and encourage younger voices in the industry. Kim Kaveh looks at its key objectives
This week's top stories included an analysis finding the cost of equalising guaranteed minimum pensions in schemes could hit FTSE 100 profits by up to £15bn.
Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.