UK - Torfaen County Borough Council has awarded Threadneedle Investments a £235m UK equity mandate.
The fund manager is replacing Gartmore Investment Management.
Threadneedle expects the UK equity portfolio to outperform the FTSE All-Share by 1% per annum, net of fees.
Torfaen County Borough Council executive member for finance Glyn Caron said: “We went through an extensive and robust selection process and decided to appoint Threadneedle Investments because of its investment process, philosophy and specialist equity capabilities.
“In addition, the investment panel was impressed with the clarity of the manager’s approach, performance, risk control and importance placed on client relationships.”
Threadneedle head of institutional business, Mark Stanley explained that since the company relaunched in 2000 it had won a UK equity mandate for Frank Russell’s multi-manager product and the Marks & Spencer DC plan among others.
*The Greater Gwent (Torfaen) Pension Fund has awarded Baring Asset Management a specialist equity mandate worth £43m.
The mandate is for a combined Japan, Pacific Rim and Emerging Markets portfolio invested in pooled vehicles.
Baring’s brief is to outperform the benchmarks in each of these regions by 2% per annum over a rolling three-year period.
The benchmarks are FTSE WI Japan, FTSE WI Pacific ex-Japan, and MSCI Emerging Markets Free Index.
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