UK - Exclusive: Nikko Global Asset Management has been dropped from the roster at the London Borough of Islington Pension Fund following performance concerns, said a source close to events.
A global (ex-UK) active equities mandate, worth between £100-120m, has now been awarded to Capital International.
The move was advised by Mercer Investment Consulting.
This week's top stories include ITS' management buyout from Mercer, and The Pensions Regulator launching a probe into single-employer defined contribution schemes' default funds.
People retiring in the UK will on average outlive their pension savings by 10 years, according to research by the World Economic Forum (WEF).
Steps to improve auto-enrolment are uncontroversial and obvious, but the government is dawdling on introducing the necessary changes, argues Jack Jones.
Professional trustees will be expected to apply for accreditation as part of a framework intended to be launched on 1 July by the Professional Trustee Standards Working Group (PTSWG).