UK - The £18.8bn Electricity Supply Pension Scheme has switched property managers.
F&C Property Investment Management and Schroder Property Investment Management have taken over from Aberdeen Property Asset Managers to run a £709m mandate.
The scheme’s annual report also revealed that its equity allocation at the end of March dropped from 44.9% to 40.7% while its allocation to fixed income securities fell from 12.4% to 10.7%.
Its exposure to managed funds and unit trusts rose from 25.8% to 31.4%.
This week's edition of Professional Pensions is out now.
The government is in talks with the UK and Irish pensions regulators over how to protect members of cross-border schemes in the event of a no-deal Brexit.
The equalisation of guaranteed minimum pensions (GMPs) is at least two years away from being completed, and could take longer than four years for some schemes, a poll has found.
The Pensions Regulator will consider if schemes should be required to have professional trustees and assess the case for greater regulation of administrators and system providers, PP can reveal.