UK - Specialist currency manager A G Bisset & Company has set up a London based operation as it seeks to follow up on the local authority mandate it won earlier this year.
The manager, which currently has nearly US $3bn worth of US and European institutional assets under management, hopes to capitalise on the growing globalisation of UK pension portfolios.
Fred Bisset, chairman and CEO of A G Bisset & Company, commented: “Attitudes toward asset allocation by UK pension funds and their consultants have taken a giant leap forward since 2001, following the publication of the Myners Report and the steep fall in funding levels between 2001 and 2003.”
He added: “These changes and the recognition of the value of currency specialists have created exciting opportunities and justify a major commitment to this market place by our firm.”
The firm was one of three managers to be selected by the £2.4bn Lothian Pension Fund for a £800m active currency overlay mandate in March 2006.
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