The £2.2bn Tyne & Wear Pension Fund in the UK has placed a large chunk of its fund up for tender and is to switch to a specialist structure, a move which means that Phillips & Drew and Fidelity will lose their balanced mandates.
Currently, the fund is divided equally into balanced and specialist mandates, but as part of the review, the fund has decided to shift to a specialist style. Balanced mandates are managed by Philli...
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