Somerfield Pension Scheme is appointing Baring Asset Management as manager of its £60m UK fixed income portfolio.
The benchmark will be a composite of conventional and index-linked gilts. The objective for the fixed income mandate is to outperform the benchmark by 0.75 per cent a year.
Baring director Patrick Seth says: “This win represents another significant gain for our fixed income team. The performance objective is a demanding risk-adjusted target.”