Mandates - January 2010

Martin Currie has been appointed as investment manager for The Taiwan Fund, Inc., a closed-end management investment company listed on the New York Stock Exchange. The Edinburgh-based investment management business will manage the US$302million fund, subject to approval by the fund's stockholders at the 2010 Annual Meeting in April.

HamishWilson has been reappointed by the Mercury Provident Pension Scheme, and will continue to provide Scheme Actuary and Consultancy services. The £12million scheme reappointed HamishWilson for its business model and, and "skills, experience and disciplines" that Chris Wilson, chair of Trustees of Mercury Provident, said helps the scheme and its 700 members.

Mercer has been chosen as global retirement consultant for the second consecutive year by Nissan Motors. Mercer will advise Nissan on pension governance all over the world, and the move will strengthen the business relationship between Nissan and Mercer Japan, and also provide the opportunity for further partnership between Nissan's overseas subsidiaries and Mercer on a global basis.

JLT Benefit Solutions (JLT) has been appointed by the Merseyside Pension Fund to assist in manager searches for three separate Far East mandates. The JLT SWIM (Search Work on Investment Managers) service will be used, which provides a full manager search service for public sector funds, from the initial Official Journal of the European Union notice through to appointment and implementation of the mandate change.

Pension Insurance Corporation has been chosen by the Inchcape Shipping Services Pension Scheme (ISS) to insure £15million of liabilities. The buyout deal with the world's leading marine service provider brings Pension Insurance Corporation's portfolio of pension fund liabilities that it oversees to around £6bn, and is affiliated to more than 100,000 scheme members or former members.

Barnett Waddingham has been chosen as employee benefits adviser for EISER Infrastructure Partners, a newly formed firm that owns the €1.1bn EISER Global Infrastructure Fund. EISER Infrastructure Partners recently acquired the general partner of the EISER Global Infrastructure Fund from Fortis Investments. The Fund invests in infrastructure assets on a global basis, but with a particular focus in Europe.

Standard Life Investments
has been chosen to provide Fixed Income in Germany for Moventum, a distributor of funds primarily to intermediaries. The Banque de Luxembourg owns a key stake in its business, and Moventum is a prominent banking network in Europe. Standard Life Investments was appointed based on its performance track record, strength of IFA support and though-leadership capabilities.

Mercer has been appointed as pension scheme consultants and administrators to the occupational defined contribution (DC) scheme of Rensberg Sheppards Plc. The wealth management company has 900 members in its DC scheme, and the fund is valued at £23million.

Cardano has been appointed by the Trustees of the BAA Pension Scheme to advise on all aspects of investment arrangements, including asset allocation, liability hedging and manager selection, of its £2bn scheme. Head of clients for Cardano UK, Richard Dowell, said: "The BAA Pension Scheme is a large and long established fund, and we are delighted that the Trustees have chosen Cardano as their investment advisor."

Aberdeen Asset Management has been appointed for an Emerging Markets Equities mandate, which began in summer 2009. The Cardiff and Vale of Glamorgan Pension Fund has invested £25million, approximately three per cent of the total pension fund and ten per cent of its overseas allocation, into the mandate, which is a new allocation. The tender was completed with bfinance, which received over 50 offers from investment managers following its launch.

Rolls-Royce and Goodrich owned joint venture, Aero Engines Controls, has appointed Mercer to provide actuarial, investment consulting and administration services for its new defined benefit (DB) pension scheme. Mercer will serve over 1,000 active members.

Pensions law firm Sackers has been appointed to advise the trustees of the Parliamentary Contributory Pension Fund (PCPF), which serves Members of Parliament and Ministers. Sackers spokesperson, Robin Simmons, who led the tender on the law firm's behalf, said: "We are delighted to have been appointed to advise the trustees of the Parliamentary Contributory Pension Fund. The opportunity to work with such a prestigious and high-profile scheme is one that Sackers relishes." He added that the firm looks forward to working with the Trustees and the Pensions Unit at the House of Commons, "particularly as the Fund is the subject of close public scrutiny".

Friends Provident has been chosen to provide a new group stakeholder pension scheme for the UK employees of American asset management firm Neuberger Berman. The new scheme will replace the firm's current occupational defined contribution (DC) scheme, and UK employees will have immediate access to a single pension solution tailored to their individual needs. All UK Neuberger Berman employees are eligible to join the new scheme, and Friends Provident has produced a bespoke suite of staff communications to ensure a seamless transition of contributions.

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