TAIWAN - The Public Service Pension Fund (PSPF) has appointed Russell Investments as transition manager in what is thought to be the first mandate win of its kind in the country.
Russell will manage the $16.2bn mandatory defined benefit scheme for 62,000 civil servants, teachers and military personnel and develop transitions for various non-Taiwanese assets, including global and...
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US - Laurence Fink, chairman and chief executive of BlackRock, said billions of assets could flow into perpetual preferred shares issued by European banks looking to recapitalise as they face more stringent capital requirements.
UK - The Pensions Protection Fund has widened its selection of transition managers by recruiting nine firms to its panel, but missing from the list was incumbent State Street who the PPF said did not re-bid.
UK - UK pension funds are showing early signs of re-risking, according to panel members at a JP Morgan Transition Management (TM) press briefing in London yesterday.
State Street has been forced to reimburse a client for a transition management trade after an internal investigation found the client had been double charged on fees.