04/01/2011
By Laura Blows
Mn Services has won a £450 million fiduciary management mandate from the defined benefit Delphi pension schemes in the UK. It will advise the trustees of the Delphi pension schemes on their investment strategy with a view to managing the schemes’ funding ratio. Mn Services will also be responsible for the integrated oversight and implementation of the strategy on a delegated basis, including dynamic asset allocation and risk management, manager selection, cash management, currency overlay management, custody management and socially responsible investment.
The PPF has recruited four new managers to develop its globally diversified real estate strategy. Two managers, La Salle Investment Management and CBRE Investors are positioned for immediate appointment, while Aberdeen Asset Managers and Invesco are available on deferred appointment. Its existing manager, Aviva Investors, will continue to manage an existing UK portfolio and will be available for a global portfolio on deferred appointment.
The Department for Education Northern Ireland (DE(NI)) has gone live with Capita Harsthead’s proprietary pensions admin system, Hartlink, which was developed over 18 months to provide the specific functionality required to administer the NI Teachers’ Pension Scheme. The system will be used to administer the pension benefits of over 56,500 members of the Teachers’ Pension Scheme in Northern Ireland. The contract runs for seven years with the option for a three-year extension.
Goddard Perry Consulting has been appointed by datacentre provider Telehouse to service its Group Personal Pension (GPP) plan, which covers 90 members and has £3.5m in assets, as at September 2010.
Morgan Stanley Alternative Investment Partners has been awarded a £150m alternatives mandate for the Lincolnshire County Council Pension Fund. Lincolnshire was looking to appoint a manager who would invest 15% of the County Council's £1.2bn pension fund across the broad and diverse universe of "alternative" investments. The appointment resulted from an investment manager search conducted with JLT Investment Consulting.
Mercer has been appointed by Aecom to provide flexible benefits administration, consulting and broking services. Aecom is a global provider of professional technical and management support services to a broad range of markets, including transportation, facilities, environmental, energy, water and government.
Northern Trust Global Investments, the asset management arm of Northern Trust has been appointed by Saudi Arabian insurance service provider Tawuniya to manage a segregated passive equity portfolio, benchmarked to the Dow Jones Global Titans 100 index. The appointment, which also includes transition management services, builds on Northern Trust’s existing asset servicing relationship with Tawuniya, which includes the provision of custody, investment accounting and performance services.
Gatemore Capital Management has been appointed “dedicated chief investment officer” by the trustees of AT Kearney Limited Pension & Life Assurance Scheme. Under this “dedicated chief investment officer” model, Gatemore oversees the development and implementation of bespoke investment strategies while allowing trustees to retain final decisions.
