The London Borough of Croydon Pension Fund has chosen Hermes Investment Management to run a £220m FTSE 100 indexed portfolio. Ian Talbot, treasury head of treasury at Croydon, said: "We chose Hermes for four reasons. First, their corporate governance approach is in line with our thinking - we firmly believe in engagement with companies whose shares we hold.
“Secondly, we were impressed with their enthusiasm – they are building their third-party business and are keen to work closely with us. Thirdly, their long term index-tracking performance is excellent and last, but not least, they are excellent value for money.”
Anthony Esse, marketing director at Hermes, added: “We first started offering our services to third parties in 1998 and have now accumulated £2.5bn in third party business. We look forward to working closely with London Borough of Croydon and will ensure we meet their objectives.”
By Janet Du Chenne
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