UK - The West Sussex County Council pension fund has awarded a £567m (US$798m) investment mandate to UBS.
Speaking to Global Pensions, Rachel Fisher, performance analyst for the fund, said the scheme allocated 80% of its assets to two multi-managers - UBS and Baille Gifford - with the rest in fixed income, private equity, cash and property.
According to the fund's latest triennial valuation, it had assets of £1.5bn (US$2.1bn).
Fisher said the fund was not looking to make large-scale reallocations or changes to its investment practices and asset allocation in light of the severe global downturn.
"As a pension fund, we're a long term investor," she said, "Opportunist investments could be counter-productive given the time it takes tender new mandates."
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