UK - Goldman Sach's Asset Management has lost a £350m UK and overseas equities brief at the £2.4bn Kent County Council pension fund following a strategic asset allocation reshuffle.
However the manager retained its £180m fixed interest and £150m GTAA briefs.
A £150m Schroders overseas equities brief was re-directed along with the GSAM brief into a £550m pool created for three new global equities managers.
Schroders won one of the new briefs, a £100m unconstrained quantitative product, Alliance Bernstein was awarded a £300m brief while GMO won £150m.
Head of financial services Nick Vicars said the fund had now moved to a wholly specialist management structure.
“It means we can pick the best managers for each asset class rather than having to compromise as we have done up until now,” he said.
GSAM decided not to comment on the mandate loss.
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