US - The $460m Arkansas Local Police and Fire Retirement System has hired three firms to run approximately $10m in international equities.
Cathyrn Hinshaw, executive director of the fund, said that the $10m would be split between KBC Asset Management, Fisher Investments and Invesco. Funding will come from a $130.3m mandate held by value manager, Pacific Financial.
Larry Middleton of Stephens Capital Management assisted.
Additionally, Hinshaw said that the fund has placed Aberdeen Murray Johnstone on watch over performance issues. Aberdeen currently runs $25.9m in fixed income for the fund and will be on watch for one year.
By Geoffrey Ho
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point