AUSTRIA - State Street Global Advisors (SSgA) has won a EUR15m fund of fund equities mandate from BVP Pensionskassen, the EUR985m Austrian multi-employer fund.
Michaela Attermeyer, investment controller at the fund, said that funding for SSgA's mandate will come from a rebalancing of its equities and bonds portfolios. SSgA currently manages EUR20m in an index fund for BVP. Swiss firm ECOFIN advised the fund.
Additionally, Attermeyer said that the fund may tender for new managers shortly. Although she declined to add any further details, she said that a decision on whether or not to tender would be made by March.
By Geoffrey Ho
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