The pension fund of Hertfordshire county council has asked its consultant, Mercer, to review its investment strategy, Financial News reports. The trustees of the £2.2 billion scheme are not satisfied with the performance of the fund’s active managers and are considering shifting from active to passive.
Its investments returned 32.6%, but the pension scheme underperformed its benchmark by 6.6%. The fund is 100% actively managed, with a 70% allocation to equities. BlackRock Investment Management, AllianceBernstein and Jupiter Asset Management are the managers with the biggest holdings in Hertfordshire’s portfolio.
Click here for the story from Financial News.