UK - Merseyside Pension Fund has appointed UBS Global Asset Management to manage a US equity contract, according to MandateWire.
UBS declined to comment
In other UK news, MandateWire reported the Henderson Global Investors Group Pension Scheme had implemented an LDI strategy.
The £346m scheme has diversified its investments to include alternatives for the first time, with a £23m allocation to absolute return hedge funds and an £2m allocation to European property.
The fund has now increased its fixed income allocation to 58% of the whole portfolio, mostly held in UK government bonds. In addition, 4% is in secured loans, emerging market debt and credit alpha funds.
The equity allocation has fallen by 22% to 28%, with only 9% of assets in UK equities.
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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.
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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.