INCLUDING: UK - Gottex grabs mandate; US - Florida man stole $5.7m from pension fund; CANADA - La Caisse goes tech
UK – Gottex grabs mandate
The £3.6bn Lancashire County Council Pension Fund has awarded a £100m fund of hedge funds mandate to Gottex Fund Management.
The contract was given following a shake up in the local authority fund’s investment strategy.
US – Florida man stole $5.7m from pension fund
Floyd Seibert has been sentenced to 46 months imprisonment after a court found him guilty of embezzling US$5.7m from the Medicare employees' pension fund.
Seibert’s main business had been the operation of Medicare-certified home health agencies.
CANADA – La Caisse goes tech
La Caisse de dépôt et placement du Québec has acquired 784,000 common shares of Technologies 20-20 Inc.
La Caisse now holds a 10.79% share in the company.
The British Medical Association (BMA) has warned chancellor Philip Hammond to reform the NHS pension scheme rules or doctors will reduce their working hours.
The lifetime allowance should be scrapped and replaced with a lower annual allowance, last week's Pensions Buzz respondents said.
Action for Children Pension Fund has outsourced its pensions administration to Trafalgar House.