London Borough of Bromley Superannuation Fund dropped Fleming Asset...

London Borough of Bromley Superannuation Fund dropped Fleming Asset Management from a £110 million ($176 million) balanced mandate and replaced it with Baillie Gifford. Mike Pitt, assistant treasurer for the Borough of Bromley, said Fleming was dropped by the £220 million plan for performance reasons. Fleming Asset Management officials would not comment on the termination. The plan’s other manager, Fidelity Pensions Management, continues to run a similar portfolio. The trustees were advised by Watson Wyatt Worldwide.