FlexSecurity, the DC pension scheme of Dutch employment agency Randstad Groep, has chosen AZL as its new pension provider. From 1 January 2013, AZL will be responsible for the administration of the scheme, which plans to convert the fund into a PPI, an IORP-compliant vehicle. The degree of automation and flexibility of the administrative system of the new provider were the main reasons the scheme has appointed AZL. With the addition of FlexSecurity’s 350,000 members, AZL will be administering the pension of almost a million people.

RBC Investor Services announced it has been appointed by the Pension Fund of the employees of Banca di Legnano in Italy to provide custody, portfolio valuation and depository bank services. RBS Investor Services has supported pension plans across North America and Canada and covers around 75 per cent of all Canadian DB plans. The new mandate is an important development for RBC Investor Services in Italy.

Davy Stockbrokers, the Irish wealth management and financial consultancy, has launched a low-cost ‘online supermarket’ for pension funds. People can start a retirement fund for as little as 500 euros and access 10,000 investments run by BlackRock online. The Davy Select pensions option will allow consumers to switch between hundreds of funds with no switching fees, set-up, dealing or exit fees. There will be a management charge of around 0.75 per cent of assets in retirement, lower than the average of 1.5-2 per cent. Davy aims their online supermarket to be the ‘Ryanair of pensions’ with mass appeal and low costs.

RMS has launched RMS LifeRisks™, a modelling platform for the life insurance and pension risk management industry. It provides an integrated view of trend and shock risks in their life and annuity portfolios underpinned by detailed medical research and social change projections. Companies can access a suite of mortality risk models, for pandemic, terrorism and natural catastrophe risk, and mortality rate risk for six countries: Canada, France, Germany, the Netherlands, the UK, and the US. RMS LifeRisks helps European life insurance companies fulfil Solvency II requirements.

Russell Investments has announced the Danish Teachers Pension Fund (Laerernes) and Dutch Metalworkers Pension Fund (PME) have selected Russell Indexes to serve as the basis for investment strategies. Laerernes has invested approximately 120m euros in a mandate tracking the Russell Fundamental Emerging Markets Large Company Index, while PME have invested an unknown amount in segregated mandates tracking the Russell Defensive US and Developed Europe Indexes.

Barings has released an Apple, Android and Blackberry updated App giving retail and professional investors the latest fund prices, detailed fund information and Barings’ latest investment views and fund manager interviews. The App allows users to select their location and language, including English, French, German and Chinese. Users can customise to show funds they are interested in and a range of currency options.

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