mast image

Special Report

Impact investing

Sections

PPF appoints 10 new fixed income managers

Related images

  • PPF appoints 10 new fixed income managers

UK - The UK’s £12bn (€15bn) Pension Protection Fund (PPF) has appointed 10 new fixed income managers in an effort to broaden the scope of its investment strategy.

The lifeboat scheme’s executive director of financial risk Martin Clarke said the appointment of managers including AllianceBernstein and Morgan Stanley Investment Management marked the “next phase” for its extensive fixed income investments.

“The PPF has a 70% strategic allocation to cash and bonds, and, as we grow, we are looking to develop an investment strategy that will enable us to source a broader range of fixed income investment opportunities, while staying true to our low-risk appetite,” he said.

The selection of 10 new managers, as well as the re-appointment of five existing managers, will allow the fund to award mandates across absolute return, asset-backed securities, emerging market debt, global sovereigns and corporate credit strategies.

In addition to Morgan Stanley and AllianceBernstein, BlueBay Asset Management, Colchester Global Investors, Insight Investment Management and BlueCrest Capital Management joined as new appointees, as well as Investec Asset Management, Loomis Sayles, M&G Investment Management and Stone Harbor Investment Partners.

The companies join Mondrian Investment Partners, Goldman Sachs Asset Management, PIMCO Europe, Rogge Global Partners and Wellington Management International as existing managers that have seen their contracts renewed.

Discussing the changes in asset allocation, Clarke said: “We have already given greater asset allocation to cash to shorten the overall duration of the bond portfolio and will soon embark on a major transition that will bring into play some of the specialist strategies that are now represented in our enlarged panel.”

The framework agreement will run for at least four years, with the contracts renewable twice for an additional period of two years each.

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2548

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 300-400m.
    Closing date: 2019-07-30.

  • QN-2549

    Asset class: Fixed Income, Emerging Market Debt Hard Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 300-700m.
    Closing date: 2019-07-30.

  • QN-2550

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Active).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2551

    Asset class: Fixed Income, Emerging Market Debt Local Currency (Passive or Passive Enhanced).
    Asset region: Emerging Markets.
    Size: CHF 250-350m.
    Closing date: 2019-07-31.

  • QN-2552

    Asset class: Fixed Income, High Yield (Active).
    Asset region: High Yield (US).
    Size: CHF 500-600m.
    Closing date: 2019-07-29.

  • QN-2553

    Asset class: Fixed Income, High Yield (Passive or Passive Enhanced).
    Asset region: High Yield (US).
    Size: CHF 500-1'100m.
    Closing date: 2019-07-29.

  • QN-2554

    Asset class: Global Real Estate (Equity, unlisted Funds).
    Asset region: World (ex-Switzerland).
    Size: CHF 200 mn (potential for further growth).
    Closing date: 2019-08-07.

  • QN-2556

    Asset class: FX Hedging.
    Asset region: Global.
    Size: Mandate size of CHF 1.5 bn.
    Closing date: 2019-08-09.

  • QN-2557

    Asset class: All/large Cap Equities.
    Asset region: China A-shares.
    Size: Unit linked platform (0m USD in initial investment).
    Closing date: 2019-08-01.

Begin Your Search Here
<