Hillingdon appoints SSgA to manage passive equity mandate

State Street will manage a passive mandate of UK and regional international equities and bonds.

London Borough of Hillingdon Pension Fund investment manager James Lake said: "We appointed State Street because we wanted stable returns. None of our existing contracts have been terminated, but we have moved some of our assets out of active equities in to passive."

State Street beat of competition from two other competitors and was awarded the contract on November 12.