London Borough of Tower Hamlets Pension Fund has appointed two new managers, Pensions & Investments reports. Baillie Gifford and Ruffer will each manage £40 million mandates in multiasset absolute-return strategies.
The managers are unconstrained and are expected to take advantage of market trends. Funding for the new mandates will come from rebalancing. The £805 million fund’s search for the managers was assisted by Hymans Robertson.
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