UK - Henderson Global Investors has lost a £230m contract as fixed interest fund manager for the Lothian Pension fund.
It coincided with BlackRock and Oppenheimer Capital also failing to regain mandates from Lothian Pension Fund.
In a shake up of investment strategy, the Edinburgh based pension fund appointed Rogge Global Partners in March to take over the new global fixed interest fund after a tendering process.
A spokesperson for Lothian Pension Fund confirmed the new mandate appointments were not “like for like swaps” due to a change in portfolio make up.
The shake-up meant Franklin Templeton Institutional and Lazard Asset Management were awarded mandates by the pension fund worth £130m to manage global unconstrained equities.
Previously, the pension fund had a separate European and US fund managed by BlackRock and Oppenheimer Capital respectively.
Meanwhile, State Street was reappointed by the Lothian Pension Fund to manage the £113m Scottish Homes portfolio. This balanced mandate contract has a targeted return of 0.5% over a customised benchmark.
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