Kentucky Retirement seeks global custodian
14 September 2012 Kentucky
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Kentucky Retirement Systems (KRS) is looking for a new global custodian to provide custody services for its $13.7 billion pension fund.
Previous custodian Northern Trust is invited to rebid.
KRS stated in a release that the firm that is hired will provide 鈥済lobal custodial services, record keeping, accounting services, performance measurement, analytics, support for an unbundled securities-lending programme and other services, according to the RFP.鈥�
Earlier this year, the company hired Deutsche Bank to manage its securities lending services.
Assisting in the search will be investment consultants R.V Kuhns. Applications are due on 28 September; a decision will be made in November.
Earlier this year, the board of trustees at KRS approved a recommendation made by the KRS retiree health plan committee to provide Medicare Advantage plans to eligible retirees beginning 1 January 2013.
Previous custodian Northern Trust is invited to rebid.
KRS stated in a release that the firm that is hired will provide 鈥済lobal custodial services, record keeping, accounting services, performance measurement, analytics, support for an unbundled securities-lending programme and other services, according to the RFP.鈥�
Earlier this year, the company hired Deutsche Bank to manage its securities lending services.
Assisting in the search will be investment consultants R.V Kuhns. Applications are due on 28 September; a decision will be made in November.
Earlier this year, the board of trustees at KRS approved a recommendation made by the KRS retiree health plan committee to provide Medicare Advantage plans to eligible retirees beginning 1 January 2013.
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