UK - The £499m Highland Council Pension Fund is considering extending its commission recapture programme to cover all its fund managers.
The scheme has used Lynch Jones & Ryan to run a commission recapture programme on its £124m global equities portfolio, which is run by Alliance Bernstein, since the start of the year.
Highland Council head of corporate finance Brian Williams said it would be “nice” if LJR saved the scheme £20,000 a year in dealing costs.
Highland Council completed a review of its investment arrangements earlier this year, which led to wholesale changes at the fund. Previously, the scheme had been managed by both Baillie Gifford and Rothschild Asset Management.
The scheme appointed Alliance Bernstein as well as Fidelity Investments to run a £74m fixed income brief, Schroder Investment Management to run a £29m property portfolio and Legal & General Investment Management to run a £123m passive mandate.
The scheme was advised by Hymans Robertson.
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