IRELAND - The e8bn National Pensions Reserve Fund (NPRF) has hired the Boston-based Oechsle International Advisors to manage a e300m pan-European equities brief.
National Treasury Management Agency (NTMA) which administers the NPRF, said that two consultants for European and US property markets had also been appointed, but refused to disclose their names.
Commenting on the appointment of Oechsle, Deborah Reidy, head of investment manager selection at the NTMA, said “The selection was in accordance with the EU directive on public procurement of investment services and so it was a very rigid scoring and interview process and Oechsle came out with the highest scores.”
Reidy added that new managers for bonds and equities were currently being finalised.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers