UK - Kent County Council pension scheme has chosen Invesco Perpetual to manage an unconstrained £200m UK equity mandate.
Kent County Council's head of financial services, Nick Vickers, said: “Our interest in an unconstrained approach is that by ‘freeing’ investment managers from a benchmark driven mindset, managers can populate a portfolio with their best investment ideas, rather than managing risk relative to a benchmark index.”
The mandate will be managed by Invesco Perpetual’s head of investments Neil Woodford, who Vickers commented was a “highly respected fund manager”.
Last year the £2.4bn fund had a strategic reshuffle which involved Goldman Sachs Asset Management losing a £350m UK and overseas equities mandate.
The reshuffle also meant a £150m Schroders overseas equities mandate was re-directed into a £550m pool created for three new global equities managers.
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