Macmillan Cancer Support Pension Scheme, London, is close to hiring Mn Services as fiduciary manager of the £20 million ($33 million) fund, according to Sarah Smart, chairwoman of the scheme’s trustees.
Macmillan would be the first U.K. client of Mn. The hiring is subject to contract negotiations.
“Our investment strategy doesn’t get looked at as much as it should,” Ms. Smart said in an interview. “Because of the small size of the fund, we’re low on resources.”
Mn Services will provide investment strategy, manager selection and monitoring among other related services.
M&G Investments manages the plan’s assets in a multiasset portfolio with a 60% target to equities and corporate bonds and 40% to government bonds, Ms. Smart said.
No consultant was involved in the search.
Mn Services had about €56 billion ($84 billion) in institutional assets under management as of March 31.
