Two of the sub-funds that feed into Standard Life Investments' (SLI) manager of managers pension portfolios, made available on Sigma earlier this year, have changed managers.
US-based Wilshire Associates, which runs five equity and two bond mandates for the range, changed one of the two managers on the Global Bond fund in February. It is also close to completing a transition on the US equity portfolio, which will involve changes in management firm rather than personnel.
Douglas Davies, vice-president, funds management at Wilshire, said the global bond mandate was taken away from Pareto Partners and given to Mondrian Investment Partners following Pareto's buyout by Mellon Global Investors in late 2004.
Davies said Wilshire, which did not want to have its name on a product it did not understand, moved away from Pareto after Mellon chose to merge the bond teams of the two firms.
Underperformance still present – for now
Regtech or fintech
15% increase in number of claims paid
Open architecture philosophy
Inflation above 2% for first this this year