KOREA - The $37bn Korea Investment Corporation has chosen three FTSE non-capitalisation weighted indexing strategies making it the first Korean institutional investor to take this route, according to the FTSE Group.
Scott Kalb, chief investment officer of the sovereign wealth funds said: "We are pleased to welcome FTSE into the KIC family of external partners and we look forward to building a productive relationship. We believe the FTSE index strategies that we have selected will help to further diversify and thereby improve our public markets investment programme."
According to the 2010 annual report, over 90% of the KIC's assets were allocation to the public markets investment programme. Exactly which three strategies the KIC is using were not released.
An unnamed London-based employer has been hit with a £350,000 fine from The Pensions Regulator (TPR) for failing to fully comply with its pension duties.
XPS Pensions has enhanced its fiduciary management selection service in order to help trustees through initial selection and mandatory re-tendering.
One in five defined benefit (DB) schemes are in The Pension Regulator's (TPR) weakest two categories, analysis by Hymans Robertson has revealed.
State Street Global Advisors (SSGA) has been selected as the first index manager for the Asset Management Exchange's (AMX) passive funds.