UK - The £1.8bn Staffordshire County Council pension fund has awarded a £250m global fixed income to Insight Investment and a £110m Asian active equity brief to the Russell Investment Group.
Melanie Stokes, principal accountant (technical and pensions) said the mandates were the second and final phase of a restructure of the entire pension fund, which began last year.
The £250m global fixed income brief was previously managed by Lombard Odier and two equities mandates for Japan and Asia (ex Japan), previously held by Invesco, were combined into the £110m brief now managed by the Russell Investment Group.
Both Lombard Odier and Invesco were invited to re-tender and Stokes said the decision to switch to new managers was “not specifically” influenced by performance issues.
By Lisa Haines
An unnamed London-based employer has been hit with a £350,000 fine from The Pensions Regulator (TPR) for failing to fully comply with its pension duties.
XPS Pensions has enhanced its fiduciary management selection service in order to help trustees through initial selection and mandatory re-tendering.
One in five defined benefit (DB) schemes are in The Pension Regulator's (TPR) weakest two categories, analysis by Hymans Robertson has revealed.
State Street Global Advisors (SSGA) has been selected as the first index manager for the Asset Management Exchange's (AMX) passive funds.