Royal Borough of Kingston upon Thames Pension Fund, London, hired State Street Bank Europe as transition manager, according to Tenders Electronic Daily.
Kingston revamped the investment lineup of its £279 million ($454 million) portfolio in July, hiring four active managers — Henderson Global Investors, Fidelity International, Threadneedle Asset Management and Schroder Investment Management — to run the fund’s assets after terminating UBS Global Asset Management, which managed the plan’s assets passively.
Iain Millar, head of treasury services, was unavailable for comment.
