Twitter icon Email alerts icon Latest News RSS icon Magazine icon Stay connected:

View the article online at http://citywire.co.uk/wealth-manager/article/a724637

Threadneedle lands £150m equity income mandate

by Chris Sloley on Dec 18, 2013 at 11:57

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 Incom e 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 here or register here to comment. It is free to register and only takes a minute or two.

News sponsored by:

Long time coming: is the recovery here to stay?


Ian McVeigh and Steve Davies, managers of Jupiter's UK Growth fund, talk about their predictions for the UK equity space. Click here to watch a series of sponsored interviews with Jupiter's fund managers on the UK equity market.

Today's top headlines

More about this:

Look up the funds

Look up the fund managers

  • Stephen Thornber
    Register or Sign in to receive email alerts for items in your favourites whenever we write about them

More from us

Archive

On the road

Click here to find out more from the Audience Development team.

Read more...

SJP soft-closes Asante and Wood funds

by Robert St George on Apr 23, 2014 at 15:28

Sorry, this link is not
quite ready yet