Powys County Council Pension Fund, Llandrindod Wells, Wales, hired Aberdeen Asset Management, MFS Investment Management and Schroder Investment Management to run a combined £59 million ($90 million) in active global equities, confirmed Daniel Paley, senior accountancy assistant.
Aberdeen will run £20 million for the £220 million plan, while MFS and Schroder will run £19.5 million each.
Funding comes from terminating active global equity managers AllianceBernstein and AXA Rosenberg, which ran £32 million and £27 million, respectively. Both were terminated for performance, Mr. Paley said.
Spokesmen for both AXA Rosenberg and AllianceBernstein declined to comment.