UK - North Yorkshire Pension Fund has awarded independent investment adviser contracts to Epic Investment Advisors and Mercer Investment Consulting.
The £1.1bn fund has awarded a contract with an estimated value of £85,800 to Philip Williams, an independent investment consultant from Epic Investment Advisors.
Meanwhile, the Mercer contract is estimated to be worth £135, 000 over three years.
Explaining the rationale, North Yorkshire Pension Fund's principal accountant Neil Sellstrom, said: "Mercer scored well against all of our criteria but we were particularly impressed with the risk analysis and strategic asset allocation tools supported by a knowledgeable and pragmatic team.”
The appointment followed a recent announcement in February when the fund appointed UBS Asset Management to manage a new £49m global tactical asset allocation mandate.
In September 2006, the portfolio also revamped its investment strategy, abandoning its balanced portfolio in favour of appointing specialist managers.
Also in September, Mellon Transition Management Services (MTMS) group completed a transition management mandate for the fund's £680m global equity portfolio, which threw out its customised benchmark in the process.
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