UK - The £850m Dorset County Council Pension Scheme will consider searching for an external equities manager in May, looking to place up to £40m with an active fund manager.
Currently, 50% of the scheme’s equities are managed in-house on an index-tracking basis.
In addition, over the last three months Dorset has re-allocated £55m from cash to bonds. Bonds now make up roughly 20% of the asset allocation. Prudential M&G, the fund’s fixed income manager, benefited from the switch.
The move, said investment officer Nick Buckland, was made “to bring us more into line with our peers, because of the unstable equity markets and because our cash allocation appeared to be more than the average.”
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