Northern gets cable fund
MILTON KEYNES, England - The Cable & Wireless P.L.C. Superannuation Fund hired Northern Trust as its global custodian.
Northern Trust takes over custody from five of the 1.1 billion pounds ($1.85 billion) fund's managers - Schroder Investment Management, PDFM, Fleming Investment Management, Dresdner RCM, and J.P. Morgan (for U.S. equities).
About 8% of assets already had been custodied with Northern Trust. Watson Wyatt Worldwide was the consultant.
Singapore's Koeneman hires consultant
SINGAPORE - Koeneman Capital Management retained Portfolio Strategy Consulting to do performance analysis, and assist with business development and consultant relationships.
Koeneman is an investment manager that uses an Asia ex-Japan equity strategy and manages $600 million for institutional clients. The firm also retained the consultant to enhance its client servicing and communication, said Steven Crandall, managing director of the Seattle-based consulting firm.
U.K pension market hits 650 billion pounds.
LONDON - The burgeoning U.K. pensions industry is now worth a whopping 650 billion pounds, according to the latest edition of the Pension Funds and their Advisers handbook, published by AP Information Services.
In 1978, when the first edition was published, the U.K. pensions industry was worth a mere 20 billion pounds, said Stephen Goldsby, the book's editor.
The latest edition covers companies and organizations with more than 500 U.K. employees or a pension fund larger than 5 million pounds. It includes details about internal management arrangements, external advisers, asset allocation and size of investments. There is also a list of U.K. pension fund advisers. The international section details the largest pension funds in North America, Japan and Europe.
For copies, write AP Information Services, Roman House, 296 Golders Green Road, London NW11 9PZ, England. In the United States, distribution is handled by Money Market Directories Inc., 320 E. Main St., Charlottesville, Va. 22902