UK - The approximately £230m London Borough of Richmond Superannuation Scheme is raising its bonds allocation, according to Malcolm Smith, principal accountant at the fund.
Smith said that the fund will raise its bonds allocation by 5% with the increase in fixed income being funded by cuts in its equities holdings. The incumbent managers - Henderson Global Investors and Schroder Investment Management - will see their mandates adjusted as a result of the change, he said.
Additionally, Smith revealed that the fund is moving to a scheme specific benchmark. At present, the fund uses the WM Company local government benchmark. The move to the scheme specific benchmark follows an asset liability study that the fund conducted in the second quarter.
By Geoffrey Ho
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.