SWEDEN - Pharmaceutical giant AstraZeneca is to put four mandates for its defined contribution (DC) plan out to tender during the third quarter.
Michael Runnakko, pensions and benefits manager at the EUR259m fund, said that the fund will begin its search for new DC providers after the second quarter and hopes to have firms in place by the end of the year. The selected firms will be on a three year contract, he said.
Although he declined to name the current providers, he did say that their contracts will expire at the end of the year, hence the upcoming search.
Additionally, Runnakko said that the fund had selected Handelsbanken Asset Management to run a EUR99.3m fixed income mandate for its defined benefit scheme.
By Geoffrey Ho
The Environment Agency Pension Fund (EAPF) has joined a coalition of 88 investors to demand companies disclose more information on environmental impact.
The cross industry guaranteed minimum pension (GMP) equalisation working group has formed five sub-committees to each work on a key component of the guidance.
KAS Bank has launched an end-to-end cost transparency solution for defined contribution (DC) schemes to assist in the delivery of chair's statements.