UK – The Dundee City Tayside Superannuation fund has appointed Goldman Sachs Asset Management and Alliance Bernstein for its 775 million pound (1.13 billion euro) fund.

The mandates were put out to tender last November as the fund moved to a specialist strategy, marking a loss for Schroder Investment Management that managed a balanced mandate.

Goldman Sachs Asset Management will now run a 95 million pound (138 million euro) global bond portfolio, investing 20% in Gilts, 28% in index-linked bonds, 25% in corporate bonds, and 25% in overseas and balanced cash.

Alliance Bernstein has been appointed manager of a global equity portfolio. It will manage a similar amount to Baillie Gifford, which was also appointed to run a 190 million pound (276.6 million euro) global equity mandate last November.

Schroder Property Management will continue to run its property portfolio, and Fidelity Investments retains its position as a multi asset manager.



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