UK - Calor Gas has hired Aegon and Mirabaud Investment Management to run new mandates for its £240m pension fund.
Aegon will run a £22m UK fixed income portfolio whilst Mirabaud will run an unspecified amount in active UK equities mandate. Andrew Wild, Calor’s pension fund secretary, said that funding for the mandates will come from reducing existing fund managers’ allocations.
The fund was advised by Barnett Waddingham.
Calor’s £22m will be placed in Aegon’s fixed interest pooled pension fund, a vehicle that invests in a wide range of corporate bonds, high yield bonds and gilts.
Calor’s manager roster includes Barclays Global Investors and Rothschild Asset Management, which both run UK equities mandates. Henderson Global Investors runs a fixed income portfolio, whilst Schroder Investment Management manages a property unit trust for the fund.
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