Rhondda Cynon Taff County Borough Council pension plan, Porth, Wales, next month will search for a manager to run £120 million in U.K. fixed income. The £900 million ($1.4 billion) plan is taking a more specialist approach based on a review conducted earlier this year, said Yvonne Keitch, head of investments. Deutsche Asset Management and Foreign & Colonial manage the plans assets in balanced portfolios, and the firms will continue to manage U.K. and global equities for the plan, she said. It was not known if the two firms will be asked to rebid.
"It was just a way we were advised we might be able to improve returns, she said.