Northamptonshire County Council Pension Fund, Northampton, England, hired Martin Currie and Majedie Asset Management to run about £80 million ($146 million) each in active U.K. equity portfolios, said a pension fund spokesman who asked not to be identified. The £820 million pension fund also hired AllianceBernstein to manage a £110 million active global equity portfolio, Deutsche Asset Management to run a £100 million active U.K. bond portfolio and a £18 million property mandate, and CB Richard Ellis to manage £16 million in a property fund of funds.
The pension fund had all its assets split between two managers that ran separate active balanced mandates, the spokesman said. UBS Global Asset Management continues to manage about half the pension fund's assets in an active balanced portfolio. "We felt the time was right to explore specialist mandates," the spokesman said, declining to give any information about the balanced manager that was terminated.
Mercer Investment Consulting assisted; officials there would not comment on client matters.