Hammersmith & Fulham makes £120m foray into dynamic asset allocation

The scheme said Baring Asset Management would be responsible for a mandate worth £90m and Ruffer would invest the remaining £30m.

It said the fund managers would be in place by August 1, 2008.

The appointment follows a successful search conducted by bfinance, which considered over 50 expressions of interest from fund managers worldwide.

bfinance managing director of research and development Olivier Cassin said: "This is part of a general trend towards increased exposure to alternative asset classes as our clients look to diversify sources of return and protect capital through weak market cycles."