Dorset County Pension Fund has appointed new investment managers, following a review of its investment management arrangements.
The review, carried out by Bfinance, aimed to improve the fund’s overall performance by introducing an unconstrained approach for the fixed interest element of its portfolio.
The fund has appointed European Credit Management (ECM) and Royal London Asset Management to manage £140m each. In total, this represents approximately 20% of fund. The new managers are expected to be in place from 1 July.
The remaining £1.25bn of assets will continue to be managed by Pictet Asset Management; ING Real Estate and the in-house team at Dorset County Council and other previously-selected managers.
The fund provides pensions for over 40,000 public sector employees in Dorset.