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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.

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