Cornwall Pension Fund has appointed HSBC Global Asset Management to co-manage £60 million of its £1.4 billion active frontier market equity strategy.
The move comes as part of Cornwall Pension Fund’s equity portfolio restructure which allocates one quarter of its total to equity markets.
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The equity portfolio will now comprise of 60% global equities, 20% active emerging market equities and 20% active frontier market equities.
HSBC will use this frontier market equity strategy to invest across more than 25 frontier market countries.
Matthew Trebilcock, pension investment manager of Cornwall Pension Fund, said: "We are confident that in HSBC Global Asset Management we have secured a partner with deep insight into the companies that will be at the forefront of the growth in the next wave of developing economies."
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