Standard Life Investments (SLI) has been awarded the contract for a balanced mandate to run the UK based Trade Union Congress's (TUC) £28m Superannuation Scheme.
Mike Jones, head of management services and administration for the TUC, said: We were very impressed with SLI's strength and position on corporate governance issues, a subject close to the heart of the TUC and its members.”
The strong performance of SLI in the fixed interest market also helped us to make our decision with approximately 50% of our portfolio now invested in this market, he added.
According to SLI it was partly chosen by the TUC because of the mutual status of its parent company, the Standard Life Assurance Company.
By Geoffrey Ho
Industry Voice: Sponsored by Eaton Vance
This week's top stories included Cardano announcing plans to acquire Now Pensions from a Dutch pension fund later this year.
Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.