Universities Superannuation Scheme, London, hired specialist managers Goldman Sachs Asset Management, Wellington Management and Legal & General Investment Management, said Peter Moon, CIO of the £19 billion ($34.7 billion) plan. Goldman Sachs will run U.K. equities; Wellington, global equities; and L&G, active bonds, said Mr. Moon; he would not provide the size of the mandates.
Funding came from terminating balanced managers Baillie Gifford and Schroder Investment Management, and enhanced index manager Merrill Lynch Investment Managers, Mr. Moon said. Scheme officials made the move to capture higher alpha.