Palmer & Harvey pension fund taps Russell as fiduciary manager; searches likely
By Drew Carter | September 17, 2012 12:57 pm
Palmer & Harvey McLane Ltd. Staff Superannuation Fund, Hove, England, likely will search for managers after selecting Russell Investments as fiduciary manager, Russell spokesman Alex Jones confirmed.
“There are likely to be some changes to the manager lineup as a result of this appointment, but it would be premature to speculate as to exactly what those changes will be at this stage,” Mr. Jones said in an e-mail.
Russell will have full fiduciary oversight of the £120 million ($195 million) pension fund.
Russell was hired following a shortlist search earlier this year.
Jim Glover, director of human resources at Palmer & Harvey and chairman of the pension trustee board, was out of the office and unavailable for comment.