BGI wins Heinz
UK food giant Heinz has appointed Barclay Global Investors (BGI) to manage a £170m (E276m) passive fixed benchmark mandate for the Heinz 1975 pension plan.
The mandate will be invested in a portfolio of UK equities, overseas equities, UK and overseas bonds and index linked gilts. BGI will also handle the transition management for the plan’s £230m portfolio not currently under specialist management.
Michael Cook, chairman of the pension plan trustees, comments: “In considering the reorganisation of our portfolio we sought a solution which would provide risk-controlled, cost-effective and consistent results appropriate to the membership profile of the plan.
“By deciding to put passive strategies at the heart of our portfolio, we aim to meet these objectives.”