UK - The London Borough of Wandsworth pension fund is to tender between £475m and £750m (US$948m-$1.5bn) across four new mandates, as part of a restructuring of its portfolio.
According to the latest figures from the annual report, the fund had assets of £706m, split between Aberdeen Asset Management and UBS Global Asset Management.
Global Pensions understands UBS has lost its mandate over concerns about its performance.
The mandates would have six year terms, with the option to extend for a further six years, although the council said it retained the right to terminate contracts as and when it saw fit.
Invitations for mandate tenders should be submitted by 22 August.
Wandsworth pension fund could not be contacted for comment.
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.