UK - The £400m Harsco Investment Pension Fund has dropped one of its bond managers as part the implementation of the final stage of its liability driven investment (LDI) strategy.
Pension fund manager and secretary Lynne Bartrum said the last transition of funds away from former fixed income manager Threadneedle Investments to LDI manager Legal & General Investment Management has just been completed.
She said: "We've actually just transitioned away from Threadneedle. That's been one of the bond managers we've moved away from for the LDI," said Bartrum.
The scheme has also moved to diversify its equity managers with the appointment of TT International and Newton Investment Managers.
Bartrum said the changes have been made purely for diversification purposes.
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