UK - Cambridgeshire County Council has placed £700m (€942m) of equity portfolios out to tender after reporting dissatisfaction with its previous asset managers UBS and Schroders.
The portfolios comprise £350m of global and £150m UK equities formerly managed by UBS and £200m of European equities, half of which was managed by Schroders. John Hopwood, chief loans and investments...
Pat Sharman believes traditional custodians are not serving UK pension funds well and argues it could be time to shift towards the Dutch approach.
The Bank of New York (BNY) Mellon has been fined £126m by the Financial Conduct Authority for serious failures to safeguard clients' assets.
Cambridge and Northamptonshire local government pension schemes (LGPS) have appointed Northern Trust to act as custodian of their £4bn of assets.
The Financial Services Authority is investigating State Street over allegations it overcharged some of the UK's biggest pension schemes according to the Financial Times.
Middlesbrough Council has appointed BNP Paribas to act as custodian for the £2.5bn Teesside Pension Fund.