UK - Fixed income manager PIMCO has been appointed by the Pension and Life Assurance Plan of Savills (PLAPS) to manage an £11m bond mandate.
The assets will be split 50:50 in PIMCO’s UK Sterling CorePLUS fund and 50% in the UK Sterling Investment Grade Credit Fund - both part of the manager’s Global Investors Series (GIS) complex registered in Dublin and designed for institutional clients.
Robert Dean, chairman of the trustees, PLAPS, said: “The pensions environment in the UK continues to be challenging and, as such, it is crucial that our managers are able to assist us in meeting our objectives.”
Aon Consulting was the appointed investment consultant for PLAPS with respect to the mandate.
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