Pension Funds Insider

Pension Funds Insider brings the latest pensions news and industry insights; from investment and governance updates to new mandate appointments and pensions regulatory information.

Cornwall selects manager for DGF mandate

31 January 2013

Image for Cornwall selects manager for DGF mandate

Cornwall Pension Fund has appointed Invesco Perpetual to manage its £50m diversified growth (DGF) mandate.

The mandate is said to rise to £140m over the next year, and will be invested into the Invesco Balanced Risk Allocation Fund (IBRA).

The fund has exposure to assets that are expected to have a low degree of correlation with each other at different stages of the economic cycle and is built around equities, bonds and commodities.

"I am very pleased to welcome Cornwall as a client and to see that Balanced Risk is gaining traction as institutions consider different ways of achieving diversified growth," said Hugh Ferrand, Invesco Perpetual's head of UK institutional sales.

IBRA, which was launched in September 2009, is managed by the Invesco Asset Allocation team in Atlanta and is led by Scott Wolle, chief investment officer.

Published 31.01.2013

monique_simpson@wilmington.co.uk