UK - The trustees of Paragon pension plan in the UK have appointed Northern Trust Global Investments (NTGI) to run £18m in a range of equity and fixed income manager-of-manager funds.
The mandate, which involves a scheme specific allocation to equities and bonds, is a new venture for Paragon, being the first time the pension fund has adopted the manager-of-managers approach.
Commenting on the mandate, Amit Popat, director of UK business development at NTGI said: “This mandate is evidence of the fact that more and more pension funds are convinced of the value of the manager-of-managers approach.”
Tony Earnshaw, head of NTGI’s European manager-of-managers business added: “We are thrilled to have been appointed by Paragon, especially as they have never before invested with a manager-of-managers.
“This, in itself, goes to show that pension funds recognise the effectiveness of our style neutral portfolio approach, which combines managers to significantly reduce risk whilst increasing the chances of achieving consistent out-performance.”