UK - Northern Trust has been appointed global custodian of the £900m Dundee City Council Superannuation Fund.
The fund’s custody services were previously handled by The Bank of New York, Deutsche Bank and Schroder Investment Management. Hymans Robertson advised on the appointment which took place shortly before Christmas.
The scheme will also decide next month whether to tender an unspecified amount of its assets in a move away from balanced to specialist management. Hymans Robertson is advising on the process.
By Luke Clancy
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).