mast image

Special Report

Impact investing

Sections

Shropshire scheme hires new managers, expands global equity

Related images

  • Shropshire scheme hires new managers, expands global equity

UK – The £1.25bn (€1.46bn) Shropshire County Pension Fund has hired two new managers to oversee its global equity exposure, while retaining the services of current manager MFS Investment Management.

Concluding a tender launched in late January, the local authority scheme said the two new managers had been chosen from a shortlist of six.

In late July, the fund’s pensions committee selected Natixis Global Asset Management and Investec Asset Management from the shortlist, lending greater importance to the companies’ expertise over cost concerns.

Justin Bridges, Shropshire’s head of treasury and pensions, told IPE both managers would be given mandates worth around 8% of the fund’s total assets under management.

<

Bridges confirmed that MFS would retain its mandate, valued at £106m at the end of last March, and that Natixis and Investec would be granted around £100m in additional funding each, rather than dividing the existing portfolio.

As of last March, Shropshire’s employed Strategic Fixed Income to oversee a global government bond portfolio, while Majedie Asset Management, Legal & General Investment Management, F&C Management, Martin Currie, Baillie Gifford and Goldman Sachs Asset Management oversaw various regional equity portfolios.

Its global equity exposure overseen by MFS was gained through a pooled fund, alongside private equity property and hedge fund investments managed by HabourVest Partners, Aberdeen Property, MAN Investment and BlackRock.

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-2555

    Asset class: Real Estate.
    Asset region: European.
    Size: EUR 50 - 100 million.
    Closing date: 2019-07-22.

  • 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
<