Institutional Investors

Fife awards $160m for absolute returns


Fife pension fund, based in Glenrothes, Scotland, has awarded a $160 million mandate for absolute return strategies.

The mandate has been divided equally between Baillie Gifford Asset Management and Standard Life. At the same time Fife has also appointed Partners Group for a $80 million infrastructure mandate.

While the pension fund issued an RFP for a traditional multi-asset absolute return mandate it specified at the time it was not willing to consider hedge fund or fund of funds solutions. As it stands the council sees itself as unlikely to go down the hedge fund route in the near