UK - The £1.25bn Nottinghamshire County Council Pension Fund has committed £25m (2%) to private equity investment and hopes to appoint a fund manager for this portfolio in the beginning of 2002.
Fund secretary Peter Hurford said the fund is adopting a fund-of-funds approach to diversify its investment strategy and gain high investment returns.
The fund will appoint a specialist consultant in December 2001 to assist in the appointment of a fund of funds manager. The entire fund is advised by William M Mercer.
By Janet Du Chenne
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.