Hampshire Pension Fund names multi-asset credit managers
0Hampshire County Council has appointed Alcentra Ltd and Baring Asset Manager to manage its multi-asset credit fund.
The overall Hampshire Pension Fund was valued at £6.6bn at March 2018, and has a new strategic allocation to multi-asset credit of 10%.
The fund’s objective is to return 300bp to 500bp over three-month sterling Libor, net of fees over three- and five-year rolling periods.
It will invest primarily in high-yield fixed and floating-rate debt issued by North American and European corporates.
Hampshire estimates the fees for managing the mandate will be between £12.8m and and £14.1m over a four-year period.
Eight tenders were received for the mandate, which was awarded on 8 May, and which was for up to three asset managers.
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