The Pension Trust UK has awarded a £101m ($157.7m) mandate to INVESCO’s multi-asset management arm, adding to its existing multi-asset portfolio.

The investment will be injected into INVESCO’s Global Targeted Returns (GTR) fund, an initiative that began in September 2013, with a value of almost £2.4 billion as of July. The fund aims for a gross return of 5% p.a. above the UK 3 month LIBOR, with less than half the volatility of global equities across a rolling 3-year period.

Speaking about the deal David Adkins, CIO at the trust, says “the stability of INVESCO Perpetual’s team was a major factor” in selecting them to administer the investment. Stability is a rare thing within the industry, as multi-asset providers are expanding to fill their market niche, hiring and poaching from an increasingly shallow talent pool. This scramble for proven managers has led to frequent moves and additions within the industry.

In contrast, INVESCO Perpetual’s core fund management team of Dave Jubb, David Millar, and Richard Batty have been working together for over two years, managing the GTR since its creation in 2013. David Adkins indicated that he trusted the team would stay together in a fluid market avoiding the disruption that often follows a high-profile move.