Amcor Superannuation Fund, Sydney, hired Russell Investments as investment consultant to the A$850 million (US$781 million) pension fund, according to a Russell news release.
Russell spokesman Matt Burkhard referred all inquiries to Amcor.
Amcor spokeswoman Shelley Steele could not be reached by press time.
Buckinghamshire County rehires Mercer
Buckinghamshire County Council Pension Fund, Aylesbury, England, rehired Mercer as investment consultant, ending a search that began in March, a spokesman for the £1.3 billion ($1.9 billion) plan confirmed.
BT Pension goes with Mercer
BT Pension Scheme Management, which oversees the investment management of the £32 billion ($48 billion) BT Pension Scheme, London, hired Mercer to provide implemented consulting services for “a range of equity and fixed-income portfolios,” according to a Mercer news release.
Mercer will provide investment advice, manager research and selection, and portfolio construction and implementation recommendations to BTPS trustees, who retain discretion over investments, said Amit Popat, a Mercer partner and lead consultant, in an interview.
Frank Naylor, head of investments at BTPS, declined to be interviewed.
CalSTRS taps 2 for target-date work
CalSTRS hired BrightScope and Target Date Analytics to provide a benchmark for rating the target-date funds in its $240 million defined contribution plans, confirmed Ricardo Duran, a spokesman for the California State Teachers' Retirement System, West Sacramento.
The two firms also will analyze the system's three target-date offerings — called the Pension2 Easy Choice portfolios — in the 403(b) and 457 plans.
The optional DC plans are part of the $129.7 billion CalSTRS, and are called Pension2.
“The CalSTRS partnership with BrightScope and Target Date Analytics hopes to deliver a quick and easy way for our members to compare how the CalSTRS 457 and 403(b) products stack up to the competition and to allow them to contrast the relative risk profiles of our products to the rest of the industry,” Mr. Duran said in an e-mail response to questions.
Chicago Teachers goes with Pugh for fixed income
Chicago Public School Teachers' Pension and Retirement Fund's board voted to hire Pugh Capital Management to manage $125 million in domestic core fixed income, pending contact negotiations.
The $8.9 billion fund conducted the search as part of a plan to raise to 15% from 5% the allocation to emerging managers of its $1.8 billion in fixed income.
Funding for the new manager could come from an index fund, depending on the allocation at the time of transition. Mercer assisted.
East Sussex hires 5
East Sussex County Council Pension Fund, Lewes, England, hired five managers to run a combined £765 million ($1.1 billion) in various strategies, spokeswoman Elaine Roberts confirmed.
The £1.7 billion fund hired active global equity managers Lazard Asset Management and Marathon Asset Management to run £255 million and £85 million, respectively; multiasset class managers Ruffer Investment and Newton Investment Management to each run £127.5 million; and real estate manager Schroder Investment Management to manage £170 million in a fund of funds.
Funding for the global equity and multiasset class mandates came from reducing passive equities run by Legal & General Investment Management to £425 million. Funding for the real estate mandate came from cash and from moving funds run by UBS and M&G Investments into Schroder's mandate.
Jeyes names SEI fiduciary manager
Jeyes Group hired SEI as fiduciary manager for the company's two U.K. pension funds, which have a combined £24.6 million ($36.1 million) in assets, confirmed Tim Cave, chairman of the trustees.
SEI will handle all of the assets of the £22 million Jeyes Pension Fund and the £2.6 million Jeyes Supplementary Pension Scheme, both of Thetford, England. SEI will perform asset-liability matching studies for the plans, and run the assets using its manager-of-managers program, confirmed SEI spokeswoman Caroline Deutsch.
SEI replaces Hewitt Associates as investment consultant and Legal & General Investment Management, which ran all of the assets passively, Mr. Cave said in an e-mail response to questions. Hewitt remains the fund's actuary.
Hillingdon goes with 3 for multiasset duties
London Borough of Hillingdon Superannuation Fund, Uxbridge, England, hired Marathon Asset Management, Ruffer and Fauchier Partners to manage a multiasset portfolio valued around £90 million ($137 million), according to an announcement on European public procurement website Tenders Electronic Daily.
James Lake, investment manager of the £450 million fund, could not be reached for comment on how the portfolio is being divided .
Funding came from terminating an active global equity strategy managed by Capital International.
Hymans Robertson advised.
Mercer hired by Marley for actuarial, consulting work
Marley Eternit Ltd. hired Mercer as actuary and general benefits and risk insurance consultant for the Sevenoaks, England-based company's £580 million ($884 million) Marley 1986 Pension Scheme, a defined benefit plan, and its £5 million em Pension Scheme, a defined contribution plan, confirmed Neil Simpson, Mercer consultant.
Mercer replaces Towers Watson on both plans. Company officials wanted a single provider for the two plans and a third, the Eternit Pension Plan, another DB plan, for which Mercer already serves as actuary and consultant, Mr. Simpson said in an e-mail response to questions. He declined to give the asset size of the Eternit Pension Plan.
A Marley Eternit spokeswoman referred questions to Mercer.
Powys County Council names 3 for global equities
Powys County Council Pension Fund, Llandrindod Wells, Wales, hired Aberdeen Asset Management, MFS Investment Management and Schroder Investment Management to run a combined £59 million ($90 million) in active global equities, confirmed Daniel Paley, senior accountancy assistant.
Aberdeen will run £20 million for the £220 million plan, while MFS and Schroder will run £19.5 million each.
Funding comes from terminating active global equity managers AllianceBernstein and AXA Rosenberg, which ran £32 million and £27 million, respectively. Both were terminated for performance, Mr. Paley said.
Spokesmen for both AXA Rosenberg and AllianceBernstein declined to comment.
Wisconsin goes with J.P. Morgan for global equities
State of Wisconsin Investment Board, Madison, hired J.P. Morgan to run $800 million in active global equities, said Vicki Hearing, public information officer for the $70.5 billion board.
Funding came from restructuring LSV Asset Management's assignment. SWIB terminated two LSV-managed portfolios — $1.6 billion in enhanced Russell 1000 structured equities and $1.1 billion in quantitative international equities — and hired LSV to manage $1.5 billion in active global equities.
SWIB plans to put the remaining $400 million from the terminations into an internally managed active global portfolio. Details were not available.