UK - The £330m (US$660m) London Borough of Kingston upon Thames pension fund has tendered for a transition manager.
Millar said: "We're appointing a transition manager for best practice - to reduce market exposure.
"Although the fund's portfolio is not all that big, we might not be able to transition our assets properly and that might affect the market. Using a professional would minimise our exposure to the market."
He said the fund was aware of the T-Charter, a code of conduct for the transition management industry, and hoped a potential manger would follow its principles:
Millar said: "It's an example of best practice and governance. We would expect a transition manager to adhere to that."
As Global Pensions has previously reported (globalpensions.com : 10 July), Kingston recently tendered for a new custodian.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.