US - The board of the California Public Employees' Retirement System renewed the contracts of the 16 external managers responsible for its $123.3bn global equity portfolio.
At an investment committee meeting this week, the board renewed the contracts for one year, but have the ability to terminate a manager within 30 days.
The portfolio allocates 44.6% to domestic equities, 45.1% to developed market equities and 10.3% to emerging markets.
The domestic equity managers are Boston Company, First Quadrant, J.P. Morgan, Pzena, Marvin & Palmer and T. Rowe Price.
The developed market managers are Arrowstreet, Baillie Gifford, GMO, Nomura and Pyramis.
The emerging markets managers are Alliance Bernstein, Dimensional Fund Advisors, Genesis, Lazard and Pictet.
The Brunel Pension Partnership has become the fourth local authority pool to receive the green light from the regulator.
Defined benefit (DB) schemes are to be offered a new consolidator as the former chief of the Pension Protection Fund (PPF) launches 'The Pension SuperFund'.
Martin Freeman has been hired as head of technology product and development at Smart Pension, to support the 'growing' technology product side of the business.
Tim Sharp says the government has missed some big opportunities to help workers in the DB white paper.