UK - The £1.3bn Fujitsu Services ICL Group Pension Plan has awarded a global tactical asset mandate in a bid to boost returns.
The scheme will take tactical positions in global equities, fixed income and currency markets by investing a portion of its assets into BGI’s pooled ascent asset allocation fund. The fund has achieved an annualised outperformance of 27% above its benchmark since its inception in March 2001.
The BGI fund seeks to provide high absolute returns by taking long and short positions in 30 different equity, bond and currency markets worldwide.
Fujitsu investment committee chairman David Sillitoe said: “We wanted a risk-controlled way of consistently adding alpha to the scheme. In periods of low equity returns, schemes must maximise their portfolio’s potential to generate alpha. BGI’s approach to managing global asset allocation mandates fitted the bill.”
The scheme’s other fund managers are Merrill Lynch Investment Managers, Baring Asset Management, Capital International, Liontrust Asset Management and MFS International. The scheme is advised by Mercer Investment Consulting.
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