UK – Kent County Council has appointed Baillie Gifford to manage a 170 million pound (240 million euro) global equity mandate for its pension fund.

The global portfolio will be invested 90% in overseas equities with 10% in UK equities.

Nick Vickers, head of financial management at the pension fund in southeast England, pointed to Baillie Gifford’s strong investment process, track record and active approach to managing global equities as key reasons for their appointment.

Baillie Gifford is one of the largest managers of Local Authority pension funds in the UK and manages over 2.8 billion pounds (3.96 billion euros) for 16 authorities. Oxford County Council recently appointed the fund manager for a 105 million pound UK equity mandate for its pension fund following a move to a specialist strategy.

In total Baillie Gifford manages 19 billion pounds (26.9 billion euros) in assets.