Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

INVESCO WINS£50M LINCOLNSHIRE CC PENSION MANDATE

  • Comment
Lincolnshire CC has awarded INVESCO Asset Management a£50m US equity mandate. INVESCO was selected from a shortlis...
Lincolnshire CC has awarded INVESCO Asset Management a£50m US equity mandate. INVESCO was selected from a shortlist of four for this mandate. The mandate will be managed using INVESCO's US structured core equity product, which is based on a quantitatively oriented process. The process is designed to emphasise attractive stocks without taking 'bets' on industries or styles and has the potential to add value consistently in most market environments.

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.

- Maintain residual or non-market risk at 3%.

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.'

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.