WALES - The £572m Cardiff & Vale of Glamorgan Pension Scheme has gone out to tender for two mandates worth a total of around £109m.
The fund – administered by Cardiff County Council – is looking to hire managers for a £34.3m active European ex-UK equity brief and a £74.7m active global bond brief.
The deadline for tenders or requests to participate is August 27. The scheme has around 11,500 active, 3500 deferred and 7500 pensioner members. Its actuary is Hewitt Bacon & Woodrow.
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.