The £343m London Borough of Brent Superannuation Fund has appointed Gartmore to manage its £7m small cap mandate.
After assessing the responses given to a questionnaire, the Fund held interviews with five companies and then shortlisted three.
The fund’s head of investment and treasury manager, Martin Spriggs, said the tender was born out of a need for exposure to companies below the FTSE 350 level.
The London Borough of Brent’s Superannuation Fund has a total of 12,000 members, 4,200 of which are active contributors. The fund is invested in UK equities (£144m), overseas equities (£95m), fixed income (£90m), property unit trusts (£10m) and cash (£4m).
By Janet Du Chenne
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