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Industry: Email Alert RSS FeedNews: Aberdeen City Council seeks to appoint specialist fund managers.
Pensions Week, December, 2004
The GBP1.1bn Aberdeen City Council pension fund has gone out to tender for a number of mandates as part of its shift from a balanced to a specialist structure.
The scheme made the decision to follow the specialist investment structure trend earlier this year, which will see balanced managers Schroder Investment Management and Deutsche Asset Management being axed (PW 21.6.04). Schroders currently manages a GBP283m balanced mandate for the fund and Deutsche manages a GBP334m active balanced mandate. The scheme also uses State Street Global Advisors for a passive balanced mandate for 30% of the fund, although will be retained for managing global equities.
The specialist mandates Aberdeen is looking to appoint for include GBP240m global equities (weighted...
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