Institutional Investors

Lancashire County Pension Fund takes new approach with consultants

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UK-based Lancashire County Pension Fund, which has total assets of around $4.8 billion, is undergoing a shake-up in its approach to consultants. The new structure will see the fund using a 'bench' system of consultants, who could be called upon to undertake specific pieces of work through 'mini competitions' as and when required.

This will replace the current arrangement whereby a single generalist consultant is used to provide advice and research to the committee and the investment panel.

The shakeup is in advance of structural changes to the fund