UK - The £1.3bn (€2bn) Cambridgeshire County Council has awarded two currency mandates. (amends details of second Record mandate win)
Record Currency Management and Mellon Capital Management will invest £15m each in actively managed currency funds.
It has also emerged Record won another £15m currency mandate with the £540m London Borough of Newham Pension Fund (NOT Lincolnshire as reported before. The county is still in the process of selecting a currency manager, deadline for participation in the tender is at the end of June). Newham had awarded Record in tandem with JPMorgan for the £30m currency brief.
Since the beginning of this year, over £1.4bn in currency-related mandates have been awarded by local authority pension schemes alone and another £1bn are waiting for managers to be appointed over the next six months.
Earlier this month, a spokeswoman for Lincolnshire County Council Pension Fund had told IPE: "I think [currency investment] is one of those flavours of the month: a lot of authorities over the past few month have been looking at currency."
Elsewhere, the £280m Parliamentary Contributory Pension Fund of the House of Commons confirmed to IPE it awarded an £8m hedge fund brief but refused to disclose its manager.