US - The Connecticut Retirement Plans and Trust Funds (CRPTF) is soon expected to appoint a non-traditional investment consultant.
The new appoinment would aid the state in targeting up to 8% to a new alternative investment asset class for non-traditional strategies. It comes after CRPTF appointed Mercer Investment Consulting as the traditional investment consultant for the US$26bn portfolio.
Mercer will replace Rogerscasey, CRPTF's primary consultant for more than ten years. However, Rogerscasey will continue to serve the treasury on a project-retainer basis.
A statement from the state treasurer’s office said splitting up the previously single managed advisory services coincided with an investment policy shake up.
The statement said: “Those changes include increased exposure to emerging and foreign-developed markets, the creation of a liquidity fund and the commitment of up to 8% to a new alternative investment asset class for non-traditional and evolving strategies.”
The CRPTF confirmed this alternative provision would not include real estate or private equity as it already invests in this area.
Connecticut treasurer, Denise L Nappier, said: “With globalisation becoming increasingly important to successful investment strategies, Mercer’s worldwide reach also brings added value to its proven track record and is expected to enhance Connecticut’s pension fund’s returns.”
The Pensions Regulator (TPR) and Financial Conduct Authority (FCA) have launched a refreshed ScamSmart campaign to warn savers about unsolicited pension communications.
Ann Harris OBE and Mike Dailly have been appointed non-executive directors at the upcoming single financial guidance body (SFGB).
Pension schemes are "placing too much focus" on a narrow section of the private debt market where competition is driving down "compelling opportunities", according to Willis Towers Watson.
Barnett Waddingham's head of business development Adrian Cooper has left the consultancy to join TPT Retirement Solutions in a newly-created role.