UK - Ciba Specialty Chemicals (UK) Pension Scheme has awarded Insight Investment a £53.4m fixed income mandate.
Explaining the decision, Ciba chairman of trustees, Mark Wright, said: “We were able to base our decisions on our observations of consistent performance above benchmark, with limited volatility.”
Insight Investment's head of institutional business, Sarah Aitken, added: “For 2007, we are focused more than ever before on enhancing our service to clients through ongoing collaboration with trustees, investment consultants and managers; with additional support wherever possible, for example through trustee training.”
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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.