UK - Schroder Investment Management (SIM) looks set to be dropped by the £25m Wyman-Gordon Retirement Benefits Plan.
SIM currently runs a £20m global active balanced brief at Wyman-Gordon.
A spokesman for the Wyman-Gordon Retirement Benefits Plan cited Schroder’s poor investment returns for the scheme’s decision and added that fund managers had “not lived up to promises or expectations.” The decision will be formally announced at the scheme's trustee meeting next month.
The scheme is also reviewing a £5m passive fixed income mandate which Barclays Global Investors has held on a transitional basis since November.
Other changes include appointing an unnamed money manager and replacing William M. Mercer with US-based Vantage Global Advisors as its investment consultant.
The decision to move adviser follows the merger of Wyman-Gordon - a metal component manufacturer based in West Lothian - with Oregon-based Precision Cast Parts in November 1999.
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