Kames Capital wins Berkshire council mandate

Global chartsThe Royal County of Berkshire Pension Fund has selected Kames Capital to manage a £70 million (€87 million) global equity income mandate.

The pension fund says it is a new mandate and Kames Capital does not replace an existing asset manager.

Kames Capital will manage the funds as part of its global equity income strategy launched in January 2011, which has about £400 million under management.

The actively managed strategy aims for an initial dividend yield 30% higher than the MSCI World Index and income growth that exceeds the UK Consumer Price Index.

Head of overseas equities Piers Hiller and fund manager Mark Peden will manage the portfolio with support from Marcus Chandler.

Councillor John Lenton, chairman of the Berkshire Pension Fund Panel, says the selectors were impressed by “the depth and rigour of Kames Capital’s global equity process”.

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