Exclusive analysis of council disclosures shows some of the country's biggest investment managers have been stripped of assets

Asset managers have lost more than £12bn of investment contracts as a result of sweeping consolidation among the UK's local authority pension schemes, with much more expected to follow.

According to exclusive analysis of council disclosures by 

some of the country's biggest investment managers, including Baillie Gifford, Aberdeen Standard Investments and Morgan Stanley Investment Management, have been stripped of assets as town-hall pension funds move to cut investment overlaps.

Council pension scheme cull hits £12bn — and counting

Mark Cobley

State Street

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