LGPS Central, Wolverhampton, England, hired BMO Global Asset Management, UBS Asset Management and Vontobel Asset Management to run a total of £1.5 billion ($1.9 billion) in emerging markets equity, the £44 billion pool of U.K. local government pension schemes said in news release Tuesday.
The three managers will each run a third of the pool's emerging markets equity active strategy, which is expected to be launched later this year.
"We look forward to building a long-term working partnership with them all so that we can deliver our partner funds' investment objectives effectively," said Jason Fletcher, chief investment officer, in a news release.
The participating pension funds in LGPS Central are Cheshire; Derbyshire; Leicestershire; Nottinghamshire; Shropshire; Staffordshire; Worcestershire; West Midlands Pension Fund; and the West Midlands Integrated Transport Authority.
An RFP was issued in June.