US - The US$13.1bn San Francisco Employees Retirement System (SFERS) will tender for real estate consulting services, Global Pensions can reveal.
SFERS deputy investments director David Kushner said: “We are in the process of issuing a request for proposal for a real estate consultant. It should hopefully go out in the next day or so.”
The fund’s current contract with the Townsend Group is up for renewal in the summer, and the announcement would be part of a periodical review, said Kushner.
SFERS currently has $1.2bn of equity invested in real estate, which was slightly below the fund’s target weight, said Kushner. “But we are reviewing opportunities as they become available,” he said.
By Damian Clarkson
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
In this week's Pensions Buzz, we want to know whether bosses should have to pay into the same staff DB scheme as their workers rather than their own executive pension fund.
The Norfolk Pension Fund has been successful as the lead plaintiff in a class action case that went to jury trial in California involving securities fraud.