The Northamptonshire Pension Scheme has expanded the bond allocation mandate of Wellington Management to 15%, Global Pensions reports. The move comes after the resignation of UBS, the second bond manager of the $1.4 billion system. The system has increased the holdings of Wellington to 15%, with 5% each to a core mandate, absolute return and global strategic credit fund. The pension fund will retain a legacy fixed income mandate of 5% with UBS.
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