Sections

Prudential M&G, GSAM win UK absolute return bond brief (amended)

UK - Norfolk County Council Pension Fund has awarded contracts to Prudential M&G and Goldman Sachs Asset Management (GSAM) to run active absolute return bond portfolios.

Prudential was awarded just under £90m (€104.5m) while GSAM is to mange just under £45m. The managers have been given an approximate outperformance objective of up to 3% p.a. net of fees, benchmarked against 3 Month Sterling LIBOR.

The pension fund has around £1.8bn-worth of assets according to the latest available figures in International Pension Funds and their Advisors. These are invested roughly 27% in domestic equities, 40% in overseas equities, 18% in a range of fixed interest stocks and 15% in domestic real estate.

Other fixed income managers running mandates for the fund include Aberdeen Asset Managers and Henderson Global Investors. Staff at Norfolk County Council were unavailable for comment before deadline.
 

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-2496

    Asset class: Commodities.
    Asset region: World.
    Size: CHF 100 – 150 m.
    Closing date: 2018-12-12.

  • QN-2498

    Asset class: Fixed Income Investment Grade.
    Asset region: Global Developed Markets.
    Size: $50m.
    Closing date: 2019-01-07.

  • DS-2499

    Closing date: 2019-01-02.

Begin Your Search Here