UK – The £1.7bn (€2.5bn) Staffordshire County Council Pension Fund has revealed a sweeping revamp of its investment manager roster.

The move involves wins for Goldman Sachs, Standard Life Investments, AXA Rosenberg, Alliance Bernstein and State Street Global Advisors.

But incumbent managers Deutsche Asset Management, Jupiter, Baring and Putnam Investments have lost their UK, Europe and US equity mandates.

The central England-based council said that Goldman Sachs Asset Management and Standard Life were awarded UK active equity briefs worth around £200 million each.

AXA Rosenberg won a Europe (ex-UK) active equity mandate with an estimated value of £66m.

Alliance Bernstein Institutional Investment was handed a £150m global active equity mandate while SSGA got around £339m in global passive equities.

The council said: “The two global appointments are for entirely new mandates, whilst the other appointments have resulted from a reorganisation of the current investment arrangements across the other investment areas.

“Staffordshire is looking forward to working with the new managers under the new structure to achieve the required future performance of the fund.”

"I am delighted to welcome Staffordshire County Council as the latest local authority to join the Standard Life Investments stable and we look forward to working closely with the Council to help them achieve their investment objectives," said George Walker, head of UK institutional business at Standard Life.