William M Mercer has scored a victory over its investment consulting rivals by clinching a mandate to advise the Government Pension Fund of Thailand on asset allocation, according to Singha Nikornpun, deputy secretary-general at GPF in Bangkok.
Frank Russell, Towers Perrin and Watson Wyatt had also pitched for the business.
The GPF is a young institution, founded only three years ago, and manages retirement assets for 2.5 million government workers. It has Bt150 billion $3.4 billion in assets under management, all of which is invested onshore. It has been establishing itself as Thailand's most sophisticated institutional investor, outsourcing about a third of its investments to domestic fund managers and beating the corporate governance drum. Its...
