UK - The £180m Scottish Borders Council Superannuation Fund is reviewing actuaries Hymans Robertson and will decide on its future with the firm in December.
Principal superannuation officer Ian Hickman explained that the fund expects to make an actuarial appointment in a month’s time, adding that it may appoint new actuaries or decide to stick with Hymans Robertson.
The fund is currently undergoing an asset liability study (ALS) conducted by William M Mercer. Hickman said the outcome of the ALS will be revealed at the end of the month.
The Roxburghshire-based fund is currently looking to introduce specialist strategies and may tender its entire assets. Currently, Phillips & Drew manages around £115m in global active and passive balanced briefs, and Baillie Gifford oversees around £85m on an active balanced basis.
Alternative investments are also unlikely to feature as part of the new set-up.
By Janet Du Chenne
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