UK - Staffordshire County Council Pension Fund is to review its overseas investment strategy.
The £1.4bn scheme is looking to appoint a new manager to its £425m overseas investments along sector lines rather than geographical lines.
Staffordshire County Council financial services manager Reg Smith said: “We are looking at any new ways of investing to increase returns.”
He added: “Nothing is confirmed at present. The speculation is based on minutes from a meeting in May. There will be discussions in November.” Currently the fund allocates 48% to UK equities, 30% to overseas equities,12% to bonds and 9% to property and 1% to cash.
Actuary and consultant Hymans Robertson is overseeing the tendering process.
Hymans Robertson partner Russell Borland said: “There may not be a complete reorganisation of overseas business of the entire assets – the exact figure is not confirmed. We will be appointing a new manager but this will be decided at a later date. The investment committee will be meeting in November and they will be investing along sector rather than geographical lines.”
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