The Pensions Trust, Leeds, England, hired Invesco Perpetual to manage a £101 million ($156.7 million) multiasset allocation, said David Adkins, chief investment officer.
Assets will be invested into the Invesco Perpetual Global Targeted Returns Fund.
Mr. Adkins said the allocation was mostly funded from cash that the £7 billion pension fund had been holding following the termination last year of a multiasset global macro fund held with another manager. “This latter fund had seen a significant amount of change and fund outflows to the point where we felt that better future return prospects existing elsewhere,” he said in an e-mail.
Further details were not available by press time. Mr. Adkins did not name the manager.