A multi-asset class brief managed by Henderson Global Investors for a local authority pension fund has been reduced by at least £250m (€370m) to afford a shift to a more specialist investment structure.

The £1bn Fife Council pension fund tendered the equities portion of Henderson's brief in February.  The manager currently holds a portfolio worth 35% of the fund which will be reduced as the restructuring is implemented.

Lisa Haines

Lazard

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Fife cuts Henderson brief by £250m

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