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News: UBS captures oe120m Cambridgeshire brief.(UBS Asset Management Inc.)(Cambridgeshire County Council Pension Fund)
Financial Times Mandate, January, 2003
UBS Asset Management has won a GBP120m equity mandate after Cambridgeshire County Council Pension Fund dropped JPMorgan Fleming Asset Management (JPMF) and changed its asset allocation.
After beating three other asset managers on the shortlist, UBS has been granted a mandate with a guideline of allocating 17.5 per cent to UK equities and 82.5 per cent to non-UK equities.
JPMF lost its GBP250m balanced mandate because of "poor performance in failing to hit its targets over a three-year period". While GBP120m of its mandate has been given to UBS, another GBP600m has been split equally between Schroder Investment Management and Deutsche Asset Management to invest in UK equities and fixed interest.
Schroders and Deutsche, which now each manage...
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