Institutional Investors

Standard Life’s GARS a winner with Greater Gwent pension fund

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The $2.5 billion Greater Gwent (Torfaen) Pension Fund, based in Pontypool in Wales, has concluded its search for an alternatives manager by appointing Standard Life Global Absolute Return Strategy to run a $79 million mandate.

The pension fund received 26 bids for the mandate, put out in the third quarter last year. The decision to look for a diversified alternatives manager came as the fund looked to reduce overall risk levels without impacting overall returns.

The market volatility of 2011 has highlighted the effects of difficult equity environments for many pension funds: in the third quarter of 2011,