UK - Buckinghamshire County Council has appointed three new global equity managers for its £1.07bn (€1.14bn) pension fund, completing the search for investment managers announced in July 2008. 

In the initial tender notice, the mandate was to manage assets valued at around £130m. However, in the contract award notice Buckinghamshire stated the global equity mandate is valued at around £80m.

The appointees were chosen from 11 submissions, and are Deutsche Asset Management, Investec Asset Management and Schroder Investment Management. This follows the recent appointments of Partners Group for an alternatives mandate and Royal London Asset Management for a £110m bonds mandate. (See earlier IPE articles: Buckinghamshire seeks three new managers; Partners Group wins Bucks alternatives mandate and Bucks appoints RLAM for bonds as Devon seeks actuary)

Elsewhere, Middlesbrough Borough Council confirmed that it had reappointed Barnett Waddingham for the provision of actuarial services to the £1.93bn Teeside Pension Fund following a tender process. (See earlier IPE article: Tower Hamlets offers bond portfolio after restructure) J.P. Morgan's Worldwide Securities Services has formally announced custody mandate wins for two UK pension funds. These include custody services for the £670m London Borough of Camden; custody and accounting for the £115m Blackwells Pension Fund and custody, accounting and performance measurement for the £410m PA Pension Scheme following the recent appointment of BlackRock as fiduciary manager. (See earlier IPE article: PA Pension Trustees award fiduciary mandate) Meanwhile, Hertfordshire County Council has issued a tender notice for a property investment management for its £1.88bn local government pension scheme. The closing date for submissions is 11 November 2009 and further information can be obtained from Hertfordshire County Council.

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