Leicestershire County Council Pension Fund is looking for a new active global credit manager, Pensions & Investments reports. The credit head will be appointed to manage around a £150 million mandate.

The initial funding is likely to be £70 million but may be increased as valuations become more attractive. Currently, U.K. corporate bonds for the fund are being managed by UBS Global Asset Management, which runs £70 million, and Aviva Investors that manages £25 million.

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