The Lincolnshire County Council Pension Fund, Lincoln, England, hired AllianceBernstein Institutional Investment Management and Threadneedle Asset Management to run £100 million ($190 million) and £50 million, respectively, in active global equities, according to Ralph Gould, investment manager. The portfolios will target a 1.5 percentage-point return above the MSCI World index, net of fees.
Funding came from terminating Bank of Ireland Asset Management, which ran £150 million in active global equities for the £1 billion pension plan. "We decided to test the market," Mr. Gould said. "There have been an awful lot of organizational changes (at BIAM)." Bernadette Godley, BIAM's head of marketing, could not be reached for comment at press time.