Wealth Manager - the site for professional investment managers

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

Threadneedle lands £150m equity income mandate

Threadneedle lands £150m equity income mandate

Carmarthenshire County Council has awarded a £150 million equity investment mandate to Threadneedle, the company has announced.

The award follows a public tender by the Welsh local authority, which is the administering authority for the £1.6 billion Dyfed Pension Fund.

It reflects the council’s decision to move away from a regionally focused portfolio towards a more global approach.

This will see its existing investments in UK and European equity reallocated to the Threadneedle Global Equity Income fund, which is run by Citywire + rated manager Stephen Thornber (pictured).

Threadneedle said the award marked the second success in the UK local authority pensions sector over the past few months. It was previously selected by the London Borough of Hounslow to manage its UK property mandate.

Commenting on the award, Anthony Parnell, treasury and pension investments manager at Carmarthenshire County Council, said: ‘Our fund works with only a small number of investment managers, and this mandate is part of our strategy to take a more global approach to equity investing in order to deliver the best returns for our members.’

The Threadneedle Global Equity Income fund has returned 43.9% over the three years to the end of November 2013. This compares to a rise of 44.13% by its Citywire benchmark, the FTSE World TR GBP, over the same period.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: Yuan direction

Brewin's Gutteridge: Yuan direction

This week Brewin Dolphin's research head chats to Fidelity Asian Investment Directors Jenny Lee and Gary Monaghan about the big changes in China.

Play On the Road Challenge: horsing around on the polo pitch

On the Road Challenge: horsing around on the polo pitch

Libby Ashby takes to the polo pitch with Stuart Leigh-Davies from Redmayne-Bentley for an 'On the Road' challenge.

Brewin's Gutteridge: where Miton's Godber sees value

Brewin's Gutteridge: where Miton's Godber sees value

This week Brewin Dolphin's research head talks to George Godber, co-lead fund manager of the Miton UK Value Opportunities fund, about value investing.

Your Business: Cover Star Club

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Profile: what tempted Brewin's Glasgow team over to Rathbones?

Rathbones’ Glasgow office has only been open for three months but the team, led by Angus Kerr, has already attracted new clients

Wealth Manager on Twitter