GLOBAL - The Irish Pensions Board has engaged ten providers of legal and economic research and actuarial services to form an advisory panel of expertise.
David Malone, head of information, the Pensions Board, told Global Pensions: "We are not paying the firms a retainer fee and are satisfied we have a more inclusive and broad based options with this panel approach than engaging just one company for each discipline."
The Pensions Board enlisted a range of companies, both international and local as members of the group. These included Mercer, Hewitt and the Irish Government Actuary's Department.
In Sweden, the fourth AP fund (AP4) has launched a search for passive global equities managers.
The €80bn (US$116bn) fund said its passive global equity holding currently stood at €3bn (US$4.4bn) and it would look to appoint between one to three managers to the mandate, funding only one initially.
In the year ending 30 June 2007, the fund's total global equity allocation made up 41.2% of its portfolio but only created a 7.2% return which missed its benchmark by 0.7% according to the fund's annual report.
In December AP4 appointed BlackRock to a Pacific equities mandate.
The AustralianSuper superannuation fund has appointed Mercer as specialist service provider for its corporate division which has over AUS$1.6bn (US$1.4bn).
With this new partnership, Mercer will be responsible for administration, call centre and online services to clients and members.
Ian Silk, chief executive, AustralianSuper, said Mercer had demonstrated capacity to accommodate complex plans with a defined benefit component.
Here it is... The video of all the highlights from last night's UK Pensions Awards.
Here they are...all the pictures from the UK Pensions Awards 2019.
This week's top stories included The Pensions Regulator criticising Sir Philip Green's latest plans for the Arcadia pension schemes.
The trustees of the beleaguered industry-wide Plumbing and Mechanical Services (UK) Industry Pension Scheme have confirmed it will close to accrual in June.