Pension fund appoint new investment managers

The County Council is pleased to announce the appointment of two investment managers to the Pension Fund. Staffordshire County Council is the Administering Authority for the Local Government Pension Fund in Staffordshire.  The Fund has over 70,000 members and is worth over £1.8bn.  Over 87% of the Fund is invested in share and bond markets around the world. 

Staffordshire employs Investment Fund managers who decide how to invest the funds in the different markets.  The managers are given specific benchmarks and their performance is regularly monitored by the Pensions Panel.

The two mandates were tendered through the Official Journal of the European Union (OJEU) and Staffordshire was assisted by bfinance and Hymans Robertson in the tender assessment process. 

The two new manager appointments are:-

Insight Investment - Global Bond Active Mandate

 - value approximately £250 million

Russell Investment Group - Asia Pacific (including Japan) Active Equity Mandate  - value approximately £110 million

Councillor Leader Terry Dix said: "We are looking forward to working with the new managers to achieve the required performance of the Fund.  The appointments followed a major review of the structure of the Pension Fund and completed the process of recent new manger appointments."

Note to Editors

The Fund's incumbent Global Bond manager, Lombard Odier Darier Hentsch Asset Management Limited had decided not to bid to retain their previous mandate whilst the Fund's previous Asian and Japanese manager, Invesco Asset Management Limited were unsuccessful in their bid to retain their contract with the Pension Fund.

For more information contact John Wood, Assistant Director Technical & Pensions Services on 01785 276335

Last Modified: 20/01/2006 09:37:51
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