Cornwall County hires Invesco Perpetual for asset allocation strategy

Cornwall County Council Pension Fund, Truro, England, hired Invesco (IVZ) Perpetual to run £50 million ($79 million) in an active asset allocation strategy, confirmed Matthew Trebilcock, deputy head of treasury and pensions.

It is a first-time allocation for the £1.2 billion pension fund. An RFP was issued in August.

Mr. Trebilcock said in a telephone interview that funding will come from cash and the size of Invesco Perpetual's portfolio will increase to £140 million during the year.