Cornwall Council pension fund has appointed Invesco Perpetual to manage a diversified growth mandate (DGF) which is believed to rise from £50m to £140m over the next year.
The mandate will be invested into the Invesco Balanced Risk Allocation Fund, and Cornwall Council is the first local authority to invest in the innovative strategy.
Invesco Perpetual head of UK institutional sales Hugh Ferrand said: “I am very pleased to welcome Cornwall as a client and to see that balanced risk is gaining traction as institutions consider different ways of achieving diversified growth.”
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