The £757m Cumbria County Council pension fund in the UK has dropped fund managers Phillips & Drew and retained Schroders Investment management following an overhaul of its investment strategy.
Interpens has learnt that P&D has lost its £302.8m balanced mandate with the Carlisle-based fund, although it remains unclear who has been appointed in its place.
Schroders Investment Management - who originally held a £378.5m balanced brief - has been reappointed.
SLC Asset Management have also been reappointed to a £38m property mandate.
The local authority fund tendered its entire assets earlier this year.
The review was advised by Hymans Robertson.
By Madhu Kalia
Kerrin Rosenberg says while the rise of CDI is positive, understanding the risk and return aspect is a great challenge
Schneider Electric has appointed Aon to provide full fiduciary management services for over £400m of assets held in the Schneider Pension Plan.
Pension Insurance Corporation (PIC) has invested £40m in debt issued by Scottish Borders-based Eildon Housing Association.