SCOTLAND - Custodians The Bank of New York and Phildrew Nominees are also set to come under scrutiny at the Scottish Borders Council Superannuation Fund, as the £180m fund reviews its current manager set-up later this month.
The move follows an asset liability study conducted by William M Mercer.
Recent indicators at local authority pension funds highlight a preference for a sole global custodian, although this may not be the case at Scottish Borders due to its relatively small size, according to head of financial administration, Alan Bowman.
The Roxburghshire-based fund is currently looking to introduce specialist strategies and may tender its entire assets. Currently, P&D manages around £115m in global active and passive balanced briefs, and Baillie Gifford oversees around £85m on an active balanced basis.
Alternative investments are also unlikely to feature as part of the new set-up.
By Madhu Kalia
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.