UK - The West Sussex County Council pension fund has awarded a £567m (US$798m) investment mandate to UBS.
Speaking to Global Pensions, Rachel Fisher, performance analyst for the fund, said the scheme allocated 80% of its assets to two multi-managers - UBS and Baille Gifford - with the rest in fixed income, private equity, cash and property.
According to the fund's latest triennial valuation, it had assets of £1.5bn (US$2.1bn).
Fisher said the fund was not looking to make large-scale reallocations or changes to its investment practices and asset allocation in light of the severe global downturn.
"As a pension fund, we're a long term investor," she said, "Opportunist investments could be counter-productive given the time it takes tender new mandates."
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.