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.
The Next Generation Pensions Committee is on a mission to promote and encourage younger voices in the industry. Kim Kaveh looks at its key objectives
This week's top stories included an analysis finding the cost of equalising guaranteed minimum pensions in schemes could hit FTSE 100 profits by up to £15bn.
Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.