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Lancashire County chooses pool of 13 consultants to advise across asset classes
trueLancashire County Council Pension Fund chose a pool of 13 consultants to advise on various asset classes and investment themes on an as-needed basis.
Barnett Waddingham: Fewer than 20% of U.K. pension funds still open
trueOnly 19% of U.K. final-salary defined benefit plans with more than £1 billion ($1.5 billion) in assets remain open, said a report from consultant Barnett Waddingham.
Tesco charts funding plan to close growing pension plan deficit
trueTesco PLC, Cheshunt, England, has agreed to a funding plan with trustees of the company's defined benefit plan in an effort to plug a £3.9 billion ($5.8 billion) deficit.
Aviva Investors adds U.K. equities fund manager
trueSimon Young joined Aviva Investors as U.K. equities fund manager.
U.K. trader accused of manipulation tied to 2010 flash crash
trueA U.K. futures trader contributed to the May 2010 flash crash by engaging in illegal bait-and-switch practices, U.S. authorities said.
Law Society of Scotland taps Punter Southall for DB services
trueLaw Society of Scotland hired Punter Southall to provide actuarial, administration and investment services for its pension fund.
AMP Capital appoints head of distribution for U.K. and Europe
trueJohn Angell was named head of distribution for the U.K. and Europe at AMP Capital, said a spokeswoman for the firm.
Money managers are easing U.K. allocations
trueExecutives at global money managers and pension funds are adjusting their exposure to U.K. assets and to sterling, as election fever and the uncertainty it brings begin to take hold.
New leaders chart expansion for RBC GAM
trueThe duo soon to be at the helm of global money manager Royal Bank of Canada Global Asset Management Inc. will draw further on past acquisitions as they look to increase the firm's footprint internationally — and in the U.S. in particular.
John Lewis Partnership taps Legal & General to administer DC plan
trueJohn Lewis Partnership, London, hired Legal & General as administrator for the defined contribution section of its new hybrid retirement plan, a John Lewis spokesman said.
AllianzGI taps former BlackRock director to head U.K. institutional client services
trueJoanne Wheatley joined Allianz Global Investors as head of U.K. institutional client services, a spokesman said.
RidgeWorth adds managing director as part of international push
trueRahul Shah was named managing director, sovereign wealth and official institutions, at RidgeWorth International, based in London.
Maitland acquires U.K. fund administrator Phoenix Fund Services
trueMaitland, an advisory, fund administration and fiduciary services firm, acquired U.K.-based fund administrator Phoenix Fund Services, marking its entry into the U.K. fund administration market.
Strathclyde Pension Fund considering new asset allocation to reduce equity exposure
trueStrathclyde Pension Fund, Glasgow, Scotland, is considering a reduced equity exposure in favor of a more diversified investment portfolio.
U.K. pension funding deficit rises 17.7% in March
trueThe aggregate deficit of occupational pension funds covered by the U.K. Pension Protection Fund’s 7800 index increased 17.7% to £292.6 billion ($436.9 billion) in March.