Lincolnshire County Council Pension Fund, Lincoln, England, rehired J.P. Morgan Worldwide Securities Services as global custodian, said Nick Rouse, assistant investment manager for the £1.3 billion ($2.1 billion) fund.
The mandate also covers other services, including securities lending, proxy voting and cash management.
Mr. Rouse said J.P. Morgan again came out ahead in the fund’s scoring system, which weighs a range of various aspects of prospective custodians’ offerings, including systems, processes and fees.
An RFP was issued in August.
Search consultant JLT Actuaries and Consultants assisted.
