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Local authority hires 4 managers in framework agreement

19 February 2013

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London Borough of Barking and Dagenham has hired four managers as part of a framework agreement to look after the fund's long-only global equity.

The local authority has awarded contracts to Baillie Gifford, Kempen Capital Management, Longview Partners and Vontobel Asset Management.

As part of the framework, the four companies will manage nearly £200m. They were among 10 companies to apply to be part of the framework.

At the time when the tender was published last year, the council said that the size of the mandate was expected to be between £75m to £150m.

First published 19.02.2013

monique_simpson@wilmington.co.uk