UK - The  £485m (€719.6m) London Borough of Waltham Forest pension fund has appointed six new managers.

In shifting from multi-asset to specialist mandates, the borough has chosen the following investment managers:

Global equities: Bankinvest (> £155m) UK equities: Axa Framlington (> £185m) Diversified fixed income: European Credit Management (£73m) Property: DTZ and UBS (combined value over £37m) Global Tactical Asset Allocation: Nordea (> £15m). These managers replace incumbents Aberdeen Asset Management and UBS Global Asset Management who held three multi-asset mandates.

Elsewhere, the north London Borough of Haringey's £447m pension scheme has appointed two managers for an active currency mandate.

Record Currency Management and Investec Asset Management will manage approximately £150m the borough invests as its first foray into currency.