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.

Leicestershire pension fund hires new investment manager

21 November 2012

Image for Leicestershire pension fund hires new investment manager

Leicestershire county council pension fund has announced it has hired Aspect Capital as a managed futures manager by the scheme to invest 3.5% of its total fund assets, which are currently worth around £80m.

The investment will be into the Aspect Diversified Fund. An initial investment of £58m was made on 14 November and the remaining funding is expected to be provided over the next 6 - 9 months.

Funding for the mandate has been sourced from the Fund's hedge fund portfolio, managed by Fauchier Partners, on which redemption notices were served early in 2012.

Colin Pratt, investments manager at Leicestershire, said: "The investment is part of the fund's targeted return strategy, which covers about 20% of total fund assets. The Fauchier portfolio was part of the same strategy."

First published 21.11.2012