Royal Borough of Greenwich Pension Fund, London, hired Invesco Perpetual and Fidelity International to run £100 million ($131 million) each in a multiasset absolute-return portfolio and active emerging markets equity, respectively.
The £1.1 billion pension fund’s spokesman told Pensions & Investments in January that the absolute-return multiasset strategy is a new allocation and it will be funded from the existing equity portfolio.
The Invesco fund will invest across equities, bonds, currencies, commodities, property and high yield.
Fidelity is the fund’s only emerging markets equity manager.
Both contract terms are for a maximum of 10 years.
Spokesmen at the pension fund could not be reached for further information by press time.