UK - The London Borough of Newham Pension Fund is tendering an active currency mandate worth between £25-30m.
The mandate, which is equivalent to 5% of the total pension fund, is for an active currency pooled fund providing returns "in the region of 20% p.a. above LIBOR".
Investment managers are invited to tender for the contract, which will start on the 1 February 2007, by the 15 November.
Between five and 20 investment managers will be invited to tender.
The Pensions Regulator (TPR) is seeking "improved" powers to set a schedule of contributions in defined benefit (DB) schemes in the government's upcoming white paper, it has revealed.
New regulatory rules which require providers and advisers to produce annuity illustrations will not solve the problem of consumer detriment as they are "fundamentally" flawed, according to Retirement Advantage.
Paul Budgen is set to join financial technology and auto-enrolment (AE) firm Smart Pension as director of business development.
This week's edition of Professional Pensions is out now