News: Mercer to face performance review at Merseyside fund.

Pensions Week, October, 2004

Mercer Investment Consulting is to face a performance review at a multi- billion UK local authority pension fund to ensure it provides the best service to the scheme.

The GBP2.9bn Merseyside pension fund receives advice on strategic investment and liability issues from Mercer, which sits on its investment advisory panel, but the scheme said that it had no means of measuring Mercer's performance.

John Parry, assistant director of finance at Merseyside, said that the decision to review was prompted by Myners' recommendation that pension funds reconsider how they procure investment advice.

Parry said: "In part, the review was prompted by Myners. We have no process for measuring our investment consultant's performance and Mercer are pretty...

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