UK - The BBC's pension plan is set to conclude its asset liability study in the third quarter, according to Peter Dunscombe, investment advisor to the fund.
Dunscombe said that the £6.5bn scheme will begin an actuarial valuation in March, and that it would be completed by July. The asset liability study will be completed during the course of the third quarter, he said. No action will be taken until the study is complete, and Dunscombe refused to speculate on the possible outcome.
The scheme is advised by Watson Wyatt.
The last action that the scheme undertook was back in November, when it removed £680m from Schroder Investment Management, and distributed it between two existing and two new managers.
By Geoffrey Ho
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.