UK - The HarperCollins Publishers' pension schemes have appointed Frank Russell to manage their global equity mandates.
The schemes’ previous equity managers were Merrill Lynch Investment Managers and Barclays Global Investors.
The global equity mandate, which represents 60% of the schemes’ assets, will be invested in Russell’s multi-style, multi-manager funds.
Russell is also providing the schemes with transition management services to implement the mandate switch.
Deutsche Asset Management and Aegon Asset Management manage bond mandates for the schemes’ other assets.
The combined value of the two HarperCollins schemes, which are both closed to new members, has not been disclosed, although one - HarperCollins Publishers Pension & Life Assurance Scheme - was worth £69.5m at its last valuation.
The schemes are advised by Aon Consulting.
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