SCOTLAND - The £900m Dundee City Council Tayside Superannuation Fund is set to review its investment structure in February 2002.
The review will consider a move from a balanced to specialist portfolio as one of its options, according to the fund’s principal treasurer and investment officer Sandy Flight.
Flight added that the local authority fund was looking to retain some balanced portfolios, and may also be examining the possibility of appointing a passive manager.
Currently, Dundee’s manager line-up includes Schroder Investment Management (50%); Baillie Gifford (23%); Fidelity (22%); and Schroder Property Investment Management (5%). All three incumbents hold balanced mandates.
Glasgow-based Hymans Robertson will conduct the review.
The move follows Dundee’s decision to tender for a global custodian. At present the fund’ s custody services are handled by The Bank of New York, Deutsche Bank and Schroder Investment Management. An appointment is expected by December.
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