UK - Devon County Council Pension Fund has appointed managers to run two of the three mandates it tendered for in June.
The fund has appointed Lazard Asset Management and Wellington Management International, who will manage £150m (US$254m) each in global aggregate bonds.
It has also hired Aberdeen Asset Management and Sarasin & Partners, who will manage £90m each in global equities.
The total mandate awarded so far is for £480m, while the initial tender was for £580.
In June, the fund was looking for managers to run a £300m global fixed income mandate, a £100m emerging markets equity brief and a £180m global equity mandate.
Devon County Council Pension Fund investment manager Barry White said the manager for the £100m emerging markets equity mandate has also been appointed.
He declined to name it, but said the transition would happen in the next weeks, once some technical issues are solved.
bfinance helped the scheme with the selection process.
bfinance director business development Michael Hart said: "We have seen investors returning to the equity markets and of course, with the current financial climate, fixed income remains a popular asset class."
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