The Pension Protection Fund (PPF), which now manages £12 billion in assets, has appointed 10 new specialist fixed income managers as part of a move to use a wide range of bond and fixed income investment strategies.
PPF executive director of financial risk, Martin Clarke, said: “The PPF has a 70% strategic allocation to cash and bonds and, as we grow, we are looking to develop an investment strategy that will enable us to source a broader range of fixed income investment opportunities, while staying true to our low-risk appetite.”
The strategies now available to the PPF from bond managers on its panel of managers include absolute return strategies, asset-backed securities, emerging market debt, global sovereigns and corporate credit. The new managers appointed by the PPF are Alliance Bernstein, BlueBay Asset Management, BlueCrest Capital Management, Colchester Global Investors, Insight Investment, Investec Asset Management, Loomis Sayles, M&G, Morgan Stanley Investment Management and Stone Harbor. In addition, the PPF reappointed five firms to the panel: Modrian, Goldman Sachs Asset Management, PIMCO, Rogge Global Partners and Wellington Management International.