The Council of the City and County of Cardiff will review its £388 million ($663 million) pension fund at a Feb. 12 meeting, but no decisions on making changes to its manager lineup have been made, said John Birkin, investment officer.
The Welsh fund, formerly known as the South Glamorgan County Council Superannuation Fund, uses a specialist structure. Jupiter Asset Management serves as asset allocator. Barclays Global Investors has a passive U.K. equities assignment, while Fleming Investment Management runs active U.K. equities and global bonds. Mercury Asset Management runs a continental European equities portfolio, and INVESCO Asset Management manages separate U.S., Japan and Pacific Basin ex-Japan briefs.