Gartmore has been appointed by Glasgow City Council, the administering authority for the £6.6bn Strathclyde Pension Fund, to manage a UK small caps investment portfolio of £138m (e227m). The brief will be benchmarked against the FTSE All-Small Index with a target return of +1%.
Richard McIndoe, chief pensions officer for Glasgow City Council, comments: “ Gartmore won this mandate in the face of very strong competition. We are pleased to add their capability to our existing investment management arrangements.”