The £1.4bn (€2.2bn) Cambridgeshire County Council Pension Fund has hired State Street Global Advisors to run a new index-tracking UK equities brief, as part of a portfolio reshuffle that follows the termination of £700m worth of equity mandates earlier this year.

The fund will invest £140m into State Street Global Advisors' managed pension fund UK equity index strategy, which tracks the FTSE All-Share Index, the asset manager said in a statement.