Carmarthenshire County Council, Carmarthen, Wales, hired Baillie Gifford to run about £150 million ($246.2 million) in global equities for the £1.6 billion Dyfed Pension Fund, spokesmen for the pension fund and money manager confirmed.
Funding came from rebalancing in the pension fund's U.K. and European equity allocations, according to Anthony Parnell, treasury and pension investments manager at the council.
An RFP for a £300 million global equities allocation was issued in July. Threadneedle Investments runs the remainder of the allocation.
The county council administers the pension fund.