UK - The £25m Wyman-Gordon Retirement Benefits Plan has dropped William M Mercer and appointed Vantage Global Advisors (VGA) as its consultants.
The West Lothian fund switched to VGA after deciding that it would be more cost effective to use the same investment consultant as the one used by Wyman-Gordon’s parent company, US-based Pennsylvania Precision Cast Part’s.
The Wyman-Gordon Retirement Benefits Plan will also review its existing investment strategy in three month’s time. This move will imply a review of the fund’s existing investment managers, Schroder Investment Management, which holds a £20m global active equity mandate and Barclays Global Investors, which holds a £5m passive fixed income mandate.
By Janet Du Chenne
The registration deadline for the Workplace Savings & Benefits Awards 2019 is today.
This week's top stories were the DWP giving the green light to CDC and TPR granting extensions for 11 master trust authorisation applications.
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The Pensions Regulator (TPR) has granted Now Pensions a six-week extension for its master trust authorisation application after the 31 March deadline, PP can reveal.