THE NETHERLANDS - The EUR13bn Dutch metal and engineering workers' pension fund, PMI, has tendered two US indexed mandates, jointly worth around EUR2bn.
The Amsterdam-based fund said that about 14% of the portfolio will be invested in equities (around EUR1.8bn) and 2% (EUR250m) will be allocated to bonds.
Earlier this year the scheme transferred EUR8bn of its assets from Dutch manager Achmea - which held PMI’s entire assets in global balanced mandate - to F&C Management UK, which will invest the monies in about 12 specialist portfolios. Both investment houses are owned by Dutch firm Eureko.
Achmea will retain its property mandate.
The fund aims to appoint by year end.
By Janet Du Chenne
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.