US - New York City's Office of Labor Relations (OLR) has appointed Galliard Capital Management and Aegon Institutional Management to run mandates for the $4.5bn NYC Deferred Compensation Plan (DCP).
Georgette Gestely, program director at the fund, said that it had appointed Galliard as its first discretionary investment manager. Galliard will run the NYC DCP's $1.3bn stable income fund. The stable income fund is made up of insurance company and bank bonds.
Aegon was hired as the stable income fund's wrap administrator, Gestely said.
Additionally, Gestely said that the fund will appoint a manager to run a $193m mid/ large cap socially responsible investment (SRI) mandate later this month. The mandate encompasses both the DCP and the city's new 401(K) plan. The winning manager will be benchmarked to the Domini 400 Social Index.
The SRI mandate is one of seven investment options currently available to participants in the NYC DCP and the new 401(K). The 401(K)will be open to participants in January 2002.
By Geoffrey Ho
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.