Falkirk (Scotland) Council Pension Fund appointed Newton Investment Management to run £170 million ($316.1 million) in global unconstrained equities, said Alastair Redpath, pension fund manager.
Officials of the £850 million fund started appointing specialist managers late last year. All the assets had been managed in balanced mandates by Henderson Global Investors, Capital International and Schroders. Henderson was terminated as part of the restructuring, and Capital and Schroders were retained, with Schroders now managing £425 million in U.K. equities, bonds and property and Capital managing £255 million in global equities.
