Deutsche Asset Management (DeAM) and CCLA Investment Management (CCLA) have both retained their balanced active mandates with the £330m London Borough of Waltham Forest Superannuation Fund.
Following an investment review Malcolm Smith finance manager at the fund said that it decided to stay with existing arrangements. DeAM keep its £110m mandate and CCLA will hold on to its £105m mandates.
UK fund manager Phillips & Drew handles the remaining £115m - this part of the fund was not reviewed.
Smith added: “There had been some variance in performance but we don’t feel that its significant enough to warrant a change at this time.”
Last month International Pensions News reported that the Walthamstow-based fund carries out a review of its two worst performing managers on a six-monthly basis.
The next review is due on 4 December.
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