US - The US$13bn Indiana Employees' Retirement Fund (PERF) has announced growth in its AuM of $1.4bn (10.9%) since 30 June 2005.
PERF also recorded annual savings of $1.4m since measurements began due to cancellations of what it termed was “unnecessary contracts”. It also realised $340,000 in competitive sourcing savings.
According to the Indianapolis based fund, PERF also made strides in reducing State Board of Account audit findings during the same period. Published at the end of last year, the report contained 50% fewer findings than on the previous year.
The fund introduced a tracking mechanism or “Scorecard” for state agencies since the beginning of the July 2005 fiscal year and has claimed it has shown “significant progress in the areas of finance, investments and customer satisfaction”.
David Adams, executive director of the fund said” We are committed to continuously improving the fund our member, and we have the scorecard to prove it.”
By Daniel Flatt
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.