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JPMorgan wins Warwickshire Council mandate
04 December 2012
JPMorgan Asset Management appointed to manage global fixed income for pension fund
Warwickshire Pension Fund
Local Government Pension Scheme
Warwickshire County Council has awarded a strategic bond mandate from its pension scheme to JPMorgan Asset Management.
JPMorgan's Strategic Bond Fund invests in both government and corporate fixed income across the globe.
"With interest rates in many developed markets at generational lows and likely to remain so for the foreseeable future, there is increasing appetite from pension funds and other institutions for this sort of unconstrained fixed income strategy, as investors move from using fixed income as a pure portfolio hedge to a source of return," said Nick Gartside, international chief investment officer, fixed income at JPMorgan.
According to Mathew Dawson, acting group manager of the treasury and pensions team at Warwickshire County Council, the investment board's decision was to seek a diversified product that offers a good risk-adjusted return with the flexibility to protect capital.
As of October 2012 the Strategic Bond Fund had AuM of £678m and had returned 5.9% over the preceding year.