Somerset County Council chooses Asia-Pacific ex-Japan equity manager

Somerset County Council Pension Fund, Taunton, England, hired Mirabella Financial Services to run a £40 million ($67.1 million) Asia-Pacific ex-Japan equity strategy, said Anton Sweet, funds and investments manager at the council.

Maple-Brown Abbott, a Sydney-based money manager, will subadvise the allocation, Mr. Sweet said.

The prior manager was UBS Global Asset Management, which he said was terminated on March 31, 2013. Since then, the allocation has been run internally on a passive basis.

The pension fund has about £1.5 billion in assets.