Northern Ireland committee chooses Wellington Management for active bonds

Northern Ireland Local Government Officers' Superannuation Committee hired Wellington Management to run a £350 million ($535 million) active bond portfolio, according to an announcement posted on Tenders Electronic Daily, a European procurement platform.

The committee administers the £4.1 billion Local Government Pension Scheme, Belfast. According to the pension fund's latest annual report for the year ended March 31, 2012, about 15% of the overall portfolio is invested in government and corporate bonds. About 25% is allocated to U.K. equities, and 50% to global ex-U.K. equities. The remainder of the portfolio is invested in real estate.

David Murphy, the committee's CEO and secretary, could not be reached for further information by press time.