UK - The West Midlands Pension Fund has invested £30m ($50m) in the BlueBay emerging market opportunity fund.
West Midland chief investment officer Judy Saunders said the fund had a 3% allocation to emerging market debt.
She added the BlueBay fund complemented the £7bn local authority scheme's existing investments in the area.
The fund, launched in June 2007, achieves long and short exposure to fixed income securities of issuers based in emerging market countries, denominated in both US dollars and other hard currencies.
The mandate followed a £40m investment in a global long-short equity fund of hedge funds run by Goodhart Partners.
Saunders said the appointment was part of its strategy of having a few specialist equity funds alongside passive management.
New regulatory rules which require providers and advisers to produce annuity illustrations will not solve the problem of consumer detriment as they are "fundamentally" flawed, according to Retirement Advantage.
Paul Budgen is set to join financial technology and auto-enrolment (AE) firm Smart Pension as director of business development.
This week's edition of Professional Pensions is out now
Collective defined contribution (CDC) schemes will need clear and transparent governance frameworks, as well as effective communication strategies, to be a success, the Work and Pensions Committee (WPC) has been told.