London Borough of Enfield Pension Plan is moving away from its balanced strategy toward more specialized management because of an asset-liability study conducted by consultant Hymans Robertson, said Paul Reddaway, assistant head of finance. The £300 million ($450.4 million) plan is moving £70 million to U.K. bonds as part of the recommendation, he said. Current balanced managers Capital International and Deutsche Asset Management were invited to rebid for the fixed-income mandate. "We decided to look at the bonds first, he said.
Mr. Reddaway also suggested the plan may make further changes, but he declined to provide details.