Northern Trust Global Investors has been appointed by leather manufacturers, Scottish Tanning Industries, to an £11m global balanced mandate.
The mandate - which encompasses the value of the entire fund - covers UK and global equities as well as UK fixed-income.
Prior to Northern Trust’s appointment the brief was held jointly by Merrill Lynch Investment Management and Newton Fund Management. Their departure follows a review of the fund last year.
Renfrewshire-based Scottish Tanning is advised by William M Mercer.
By Madhu Kalia
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