Swedish pension company Alecta has been appointed to administer the defined contribution retirement pension within the ITP plan for privately employed civil servants for a further five years.

Alecta will manage the occupational pension for the ITP-connected pension savers who do not make an active choice. The pension company has also been appointed as one of the active choices an ITP-connected pension saver can make within traditional management. Existing private customers of Alecta will continue to be customers in the same way as they currently are. Alecta is pushing the fee of its Optimal Pension down from 0.09 per cent to 0.05 per cent and the fee ceiling has been lowered from SEK 600 to SEK 480 per year.

Scharf Investments has been awarded an investment mandate of more than $400m from an unnamed Nordic pension fund.

The mandate if for one of the investment manager’s core equity strategies, the Scharf Global Opportunity Strategy. The strategy is a concentrated global portfolio of around 30 stocks and aims to deliver positive long-term risk-adjusted returns using a quality value, fundamental and bottom-up approach. The strategy was first launched in the US in 2014 and was rated five stares by Morningstar as of 31 December 2022.

Dutch pension fund Stichting Pensioenfonds Openbare Bibliotheken (POB) has appointed Northern Trust to provide global custody and compliance monitoring services.

POB is a public sector defined benefit pension scheme covering the library sector in the Netherlands with approximately 25,000 members and €2.3bn of assets. The mandate was underpinned by a shared focus on social responsibility and commitment to give back to local communities. Northern Trust said that, amid upcoming legislation to reform the industry, its local team was ready to provide expertise and support. POB explained that Norther Trust’s commitment to support the librarian community by offering their employees to volunteer there as part of a company programme was “very appealing” to the pension fund.

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