UK - Specialist UK equity investment boutique Majedie Asset Management has been appointed to manage a £45m mandate for the Surrey County Council Pension Fund.
The win marks Majedie’s first local authority mandate.
Majedie has been appointed to run part of the specialist UK equity mandate in line with its specialist UK equity strategy, the UK equity service, the company said in a release.
The fund will be managed by the investment team comprising James de Uphaugh, Chris Field, Robert Harris and Adam Parker.
Commenting on the appointment, Majedie managing director James de Uphaugh said: “This is a very important mandate win for us, as it is our first business from a local authority. We are very much looking forward to working with Surrey County Council and remain focused on delivering consistent investment performance.”
Majedie has built up more than £750m in assets under management since its launch in January 2003.
Royal London saw its new group pension business decline over the first half of 2018 as the rollout of auto-enrolment (AE) drew to a close, according to its interim results.
Now Pensions has made "huge progress" in resolving legacy administration issues - switching systems and completing unit adjustment for a "large proportion" of members, it says.
Trustees of the Airways Pension Scheme (APS) will not make a firm decision on whether to appeal the Court of Appeal's judgment on discretionary increase payments until September.
Accountant Hashmukh Shah has pleaded guilty to deliberately providing false information to The Pensions Regulator (TPR) when stating a pension scheme had been set up for staff of a London-based restaurant.