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Scottish scheme hires 6 managers in framework agreement

08 January 2013

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The Fife council pension scheme in Scotland has announced a framework agreement consisting of six asset managers.

During the 4 year contract period the managers are to look after the scheme's global equities and make active, long-only investments when the scheme requires their services.

The scheme's mandates in this asset class are likely to be between £100m and £250m (or 'between 8 % and 20 % of total fund assets'). Multiple individual mandates may be awarded within the framework tenure of 4 years.

The chosen managers by the scheme, which holds assets of around £1.3bn, for the framework are: Janus Capital, Newton Investment Management, Mondrian Investment Partners, Morgan Stanley Investment Management, Wellington Management, and M&G Investments. 

The investment objective will be to outperform a global equity index (provisionally the MSCI AC World Index) by 2.0 % to 4.0 % p.a. (gross of fees over rolling 3-5 year periods).

 

First published 08.01.2013

azeevalkink@wilmington.co.uk