UK - The FKI Group Pension Scheme has appointed Rothschild Asset Management (RAM) to manage its £56m bond portfolio.
The engineering scheme set RAM a specialist benchmark of 50% in the FTSE Actuaries index over a 15 year gilt index and 50% in the FTSE Actuaries over a five year index linked gilt index, with a target to outperform the benchmark by 1% per annum after fees over rolling three year periods. The portfolio can also invest in non-government bonds and in international bonds.
The appointment follows a search process conducted by the trustees in conjunction with consultants Bacon & Woodrow.
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