The £110m Shetlands Islands Council Superannuation Fund has ditched Phillips & Drew (P&D) and appointed Capital International as its new fund manager.
Capital was chosen from a shortlist of four companies, including P&D. Principal accountant Jeff Goddard said that although P&D achieved its outperformance target, the council agreed that the appointment of Capital would be the best way forward.
The Shetlands Islands Council Superannuation Fund is invested in UK equities (58%), overseas equities (24%) and the remaining 18% is invested in bonds, cash and property. The fund is advised by Hymans Robertson.
By Janet Du Chenne
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.