Pension Protection Fund, London, rehired Mercer as investment consultant, according Ana Moreno, spokeswoman for the £11 billion ($17.7 billion) fund.
An RFI was issued in November.
The PPF, which is the U.K.'s equivalent to the PBGC, has a strategic target asset allocation of 70% invested in cash and bonds, 20% in alternatives and 10% in equities. A swap overlay to hedge against interest rate and inflation risks is also applied as part of the fund's liability-driven investing strategy, according to information provided by the fund.
