UK - The £3.2bn London Regional Transport Pension Fund has appointed Barclays Global Investors to manage one of its three active UK equity portfolios.
BGI, which also manages the fund’s index-tracking portfolio worth in the region of £895m, replaces Société Generale, which oversaw £312m in UK equities and is now responsible for more than a third of the scheme’s assets.
The move follows a triennial performance review of its investment managers by the trustees.
Secretary to the trustees, Chris Angell, said: “The issue with Société Generale was volatility – its performance was up and down. We decided to look for something more consistent and BGI’s active track record showed this.”
The LRT fund has also launched a website to provide information about member benefits and how the fund is managed.
The site – www.lrtpensionfund.co.uk – is divided into four areas, each for a different stage of membership, as well as general fund information, covering investment management and trusteeship.
The site, developed by Anthony Hodges Consulting, also includes the fund’s trust deed and rules, and its report and accounts.
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