A survey, completed by IC Select, has found that 48% of investment consultants do not have a professional qualification. The survey covered 505 investment consultants, 323 of these were lead investment consultants and 188 were investment consultants acting in a support role. Amongst the lead consultants, 39% had no professional qualification with 60% of those in support roles currently unqualified.
The number of pension funds retendering their investment consultant services fell sharply in 2010 from a high of 5.2% of funds in 2009 to 3.5% last year, according to a survey by IC Select. This fall followed three years of steady increases in the number of funds retendering investment consultant services.
Presentation given at the Institutional Investor Institute Conference on 28 June 2011. (Access presentation)
MNOPF has recently established a delegated chief investment officer (DCIO) or fiduciary manager structure for the management of their fund. IC Select has assisted MNOPF in completing their governance structure for the DCIO with the selection of Hymans Robertson to an oversight role. To read the press release (click here)
The Staffordshire County Council Pension Fund has recently concluded tenders for the schemes investment consultant, actuary and performance measurer. They were advised in all three selections by IC Select, the specialist pension adviser selection and monitoring firm, working alongside the Staffordshire procurement team.