(updated with correction)
London Borough of Bexley Superannuation Fund hired BlackRock to run £50 million ($79.3 million) in active global bonds, said Terry Pearce, financial resource manager for the £447 million plan.
Funding comes from terminating UBS Global Asset Management from a £134 million balanced mandate. UBS kept £84 million of the mandate to be run in U.K. equities, while the bond assets were parked with the fund's other balanced manager, Newton Investment Management, which will run £288 million after the hire.
Aon Hewitt assisted in a search that began in March.