UK - Schroders has lost equity briefs together worth £76m at the £850m Shropshire County Council Pension Fund to Baillie Gifford and Martin Currie Investment Management.
Head of finance (treasury and exchequer) Graham Chidlow said Baillie Gifford had been awarded a Japanese equities brief worth £42m, and Martin Currie a portfolio of pacific ex-Japan equities worth £34m, both originally managed by Schroders.
“We felt the time was right to review our investment arrangements in these areas and we re-tendered,” Chidlow told Global Pensions.
“We decided that going forward our needs are more appropriately met by Baillie Gifford and Martin Currie.”
Schroders declined to comment.
By Lisa Haines
The Next Generation Pensions Committee is on a mission to promote and encourage younger voices in the industry. Kim Kaveh looks at its key objectives.
This week's top stories included an analysis finding the cost of equalising guaranteed minimum pensions in schemes could hit FTSE 100 profits by up to £15bn.
Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.