Norfolk County Council Pension Fund, Norwich, England, named Baillie Gifford, M&G Investments, Marathon Asset Management, Sarasin & Partners and Wellington Management International as finalists for a £125 million ($201 million) active global equity mandate, said Alexander Younger, accountant for the £2.1 billion fund.
The managers have made a report and presentation to the council’s pension committee, which is expected to select a manager by June.
The funds for the new mandate are being temporarily held in a passive U.K. equity fund run by Legal & General Investment Management. AllianceBernstein was terminated from an approximately £200 million active U.K. value equity mandate in 2010 for performance, Mr. Younger said. Mark Atkinson, AllianceBernstein spokesman, declined to comment, citing company policy not to comment on hirings or terminations.
Investment consultant Hymans Robertson is assisting.