Specialist investment manager Kames Capital has been awarded a £300 million (€348 million) “buy and hold” fixed income mandate by the Nottinghamshire County Council Pension Fund.
The mandate will be invested in a portfolio of corporate bonds with a target yield of Libor plus 1.25% after fees.
The aim of the mandate is to provide cash flow to meet Nottinghamshire’s planned investments into infrastructure over the next five years.
Keith Palframan, group manager of finance at Nottinghamshire County Council Pension Fund, said that the plan was to make staged investments from March 2018 to the end of 2012 into infrastructure.
He added that Kames had created a portfolio that meets the council’s objectives for “liquidity, security and performance” over the five-year time frame.
Kames manages £51.3billion on behalf of UK and international clients – including pension funds, government agencies, financial institutions, wealth managers, family offices and financial advisers.
©2017 funds europe
