Swires adds new pension fund managers

The Hong Kong group restructures its investment strategy.

Swire Group has just appointed Pareto Partners in London to run a currency overlay mandate for the HK$3.5 billion $448.77 million Swire Group Retirement Benefits Scheme, says Paul Moore, company secretary.

The decision was spurred by HSBC Asset Managements decision last year to pull out of tactical asset allocation. While Swires relies on simple global balanced fund mandates for the smaller pension funds within its group encompassing nearly 60 corporate entities, for the past six or seven years it has followed a specialist strategy for its largest pension fund, the Group Retirement Benefits Scheme, which covers listed entities Swire Pacific and Cathay Pacific Airways but not the groups third listed...

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