Simon Fraser University, Burnaby, British Columbia, hired four managers to run its C$193 million (US$129 million) hybrid pension plan for members of the academic staff.
Hired were: Sprucegrove, to manage an international equity pooled fund; Phillips, Hager & North, offering Canadian balanced, Canadian bond, Canadian equity plus and U.S. equity funds; McLean Budden, global equity, Canadian equity and money market funds; and Barclays, BGI Index Fund U.S. and Canada, actively managed S&P 500, TSE 300 index and synthetic Canadian equity index funds.
The plan’s assets previously were handled in-house in a core fund. The new structure gives participants more flexibility, said Alan Black, manager of pensions and benefits.
The plan also hired SunLife as record keeper for participants using the plan’s GIC option.
Administration and trustee duties are still handled internally.
