Schroders loses balanced LGPS mandate
UK - The £640m (€935m) London Borough of Tower Hamlets Pension Fund has replaced Schroders on a balanced mandate with two specialist managers.
A £90m (€135m) UK equity brief was awarded to Aberdeen Asset Management. This is the second mandate in this asset class with Martin Currie currently managing another £100m.
Baillie Gifford won a £60m global equities mandate which is an addition to the £140m currently run by investment manager GMO.
Schroders still keeps a roughly property mandate with the London borough fund.