West Midlands Pension Fund (WMPF) has picked advisory and management services provider Hymans Robertson LLP to supervise yearly formulation and review of the fund's strategic investment allocation benchmark, Pensions & Investments reports. The new benchmark is due by June. WMPF does not plan to hire new managers.
The Wolverhampton, England-based, sustainable and affordable final salary pension provider has formerly hired firms such as Morgan Stanley Investment Management to execute need-based services for the system. The move to an annual service is aimed at supporting dynamic investments by the $13.3 billion fund.
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