EDINBURGH, Scotland -- John Menzies PLC hired Aon Consulting to provide actuarial and investing advice for its Ll65 million ($267 million) pension fund.
Aon replaces William M. Mercer, which was the fund's consultant for about 10 years. Aon is reviewing the Edinburgh-based fund's investments, which may result in minor adjustments, said Cathy Fleming, deputy pensions manager. The "mini-assessment" is due in late June, Ms. Fleming said. A full-scale review will not occur until 2001.
Currently, Schroder Investment Management runs about two-thirds of the fund in a core balanced approach, while Mercury Asset Management runs the remaining third in a more aggressive balanced strategy.