UK - The £1.8bn Staffordshire County Council pension fund has awarded a £250m global fixed income to Insight Investment and a £110m Asian active equity brief to the Russell Investment Group.
Melanie Stokes, principal accountant (technical and pensions) said the mandates were the second and final phase of a restructure of the entire pension fund, which began last year.
The £250m global fixed income brief was previously managed by Lombard Odier and two equities mandates for Japan and Asia (ex Japan), previously held by Invesco, were combined into the £110m brief now managed by the Russell Investment Group.
Both Lombard Odier and Invesco were invited to re-tender and Stokes said the decision to switch to new managers was “not specifically” influenced by performance issues.
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