CHANNEL ISLANDS - The £1.1bn (US$2bn) States of Jersey Public Employees Contributory Retirement Scheme (PECRS) has made a maiden property investment worth around £14m with an undisclosed manager, according to MandateWire.
The schemes equity investments have increased by around 18% since 2006. The remaining 2% of the scheme's assets have been equally invested in property and cash.
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.