US - The Ohio Police & Fire fund will be sinking US$25m into real estate and changing its private equity benchmark.
The $10bn fund announced it will be making a $25m investment into Westbrook real estate fund VII on the recommendation of its real estate consultant Townsend Group.
Acting on the advice of it investment consultant, Wilshire Associates, OP &F also changed its private equity performance benchmark to the Wilshire 5000 +300 basis points.
At the end of August, the fund almost reached the $11bn mark, after falling long-term interest rates provided some relief to stocks.
The High Court has blocked the £12bn transfer of Prudential's annuity book to Rothesay Life, citing the insurer's lack of "established reputation" and capital backing.
This week's top stories included Legal & General acquiring MyFutureNow to provide a dashboard service to customers, while also agreeing a hybrid buy-in with a Hitachi scheme.
NEST has signed up to the government-backed Star Initiative, taking all of its 8 million members' pension pots with it.
It is perhaps inherently difficult to find an agreed definition of value for money, but some methodologies could act as a stopgap, argues Jonathan Stapleton.