UK - The £341m London Borough of Greenwich Superannuation Fund has dropped Schroder Investment Management after adopting a specialist manager structure.
Previously, the scheme was split between two active managers – Schroder Investment Management and Deutsche Asset Management.
The two had been running the scheme on a balanced basis since 1997, but following an asset allocation study and investment review conducted by Hymans Robertson, the scheme has decided to move to a specialist structure and hire four replacement managers.
The new appointments – due to take effect from July – include Barclays Global Investors, which will manage a passive multi-asset brief; Alliance Bernstein, which will run global equities; Fidelity Investments, which will manage the scheme’s fixed income portfolio; and ING Real Estate, which has been awarded the property brief.
Deutsche has been retained to run an active, multi-asset mandate.
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