DENMARK - Danish pensions administrator SAM Pension will in February tender high yield bond mandates worth EUR110m to be split equally between two managers.
The money will be allocated from bond portfolios currently run internally. SAM Pension manages nearly EUR9bn in assets.
Neils Hougaard, head of investments in Valby, declined to discuss the criteria for the manager searches.
In addition, SAM Pension has delayed its EUR95m search for a US private equity fund of funds manager. An appointment is now expected Q3 2002.
It has also said it may tender for a EUR70m small cap equity manager and EUR70m emerging markets manager in 2003.
By Luke Clancy
Mark Evans has been appointed as a director at Independent Trustee Services (ITS) to lead trustee appointments in London.
The Pension Protection Fund (PPF) is consulting on changes to the actuarial assumptions it uses in valuations in a bid to better reflect the bulk annuity market, with schemes set to move into surplus on aggregate.
Private sector defined benefit (DB) schemes were 96.3% funded on a Pension Protection Fund (PPF) compensation basis at the end of July, according to the lifeboat fund's monthly index.
Conduent has completed the sale of its actuarial and human resource consulting business to private equity investor, H.I.G. Capital.