The return and risk objectives for Structured Core Equity are to:
- Outperform the S&P 500 by 150-200 basis points over a full market cycle.
- Maintain total risk, as measured by annual standard deviation of return, equal to that of the S&P 500.
Sarah Bates, managing director of INVESCO's UK Institutional Division, said:
'We are delighted that Lincolnshire CC has chosen INVESCO to manage a specialist mandate for their pension fund. We are excited that such a prestigious client has selected this particular product. We manage over US$2bn in this type of product, and are delighted to add another specialist mandate to our local authority client base.'
David Forbes, assistant county treasurer, Lincolnshire CC said:
'I am very pleased to announce that INVESCO have been selected as our new active manager for US equities. Some 36 managers submitted proposals for this mandate and a thorough review of all these has taken place. Our Investments Sub Committee was particularly impressed by the robustness of INVESCO's process with the absence of any significant style bias being particularly attractive. I look forward to a rewarding relationship with INVESCO.'