LONDON--()--The Pension Protection Fund (PPF) has appointed Loomis, Sayles & Company to a 15-member panel made up of specialist active bond managers to help it manage a wider fixed income investment portfolio. Loomis Sayles, a Boston-based investment manager, opened its first international office in London earlier this year.
As stated in PPF's press release, members of the panel will be selected to invest in a variety of mandates, both specialist and general, in a range of fixed income sectors based on areas of expertise, including absolute return, asset-backed securities, emerging market debt, global sovereign debt, and corporate credit. The press release states: "With the PPF's growing portfolio of assets now at £12 billion, this enlarged panel will give the PPF the flexibility to access a broader range of bond strategies. The PPF will only place funds with panel managers whose strategies and skills are most appropriate to meet its objectives at any given time."
According to its website, the Pension Protection Fund's main function is to provide compensation to members of eligible defined benefit pension schemes, when there is a qualifying insolvency event in relation to the employer, and where there are insufficient assets in the pension scheme to cover the Pension Protection Fund level of compensation. The Pension Protection Fund is a statutory fund run by the Board of the Pension Protection Fund, a statutory corporation established under the provisions of the Pensions Act 2004.
About Loomis Sayles
Since 1926, Loomis, Sayles & Company, L.P. has served the investment needs of institutional and mutual fund clients. As performance-driven investors seeking exceptional opportunities, Loomis Sayles employs actively managed disciplines that combine fundamental research, systematic risk assessment and experienced portfolio management. This rich tradition has earned Loomis Sayles the trust and respect of clients worldwide, for whom it manages more than ₤108 billion in equity and fixed income assets as of June 30, 2012.