London Borough of Hackney Superannuation Fund will begin an asset-liability study within the next few months, said Tony Hall, assistant director of finance. Actuary Watson Wyatt is conducting a valuation of the £500 million ($714 million) pension plan prior to the study, he said
In the next few months, plan officials also will conduct routine triannual reviews of its external money managers — Barclays Global Investors, which runs almost half the plan assets in enhanced index strategies, and Credit Suisse Asset Management, which runs the plan’s £50 million real estate portfolio, said Mr. Hall.
The pension plan also plans to outsource management of £145 million ($208.2 million) in indexed assets, according to Mr. Hall. That move coincides with the departure last month of the head of investments, Paul Audu, who was named senior investment consultant at HSBC Actuaries and Consultants. Mr. Hall has taken on Mr. Audu’s responsibilities until a manager is hired.
