Wiltshire County Council switches out Record for Berenberg Bank

A penny-saving jar for pensions

Wiltshire County Council pension fund has appointed Berenberg Bank to actively manage the currency exposure of its £500 million overseas equities portfolio.

The pension fund, which is in the implementation process, is due to go live with the bank in the next month. Berenberg replaces London-based Record Currency Management, which had been running a 50% passive hedge programme for the fund since last year.

Record was initially signed in 2007 to provide both an active and passive hedging programme

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