The £900m (€1.4m) UK Falkirk council pension fund has awarded fund manager Baillie Gifford a fixed income mandate worth £135m, previously managed by Schroders and Barclays Global Investors.

The new active bond mandate is worth 15% of the fund and combines the portfolios previously held by Schroders and BGI. The managers did not comment.

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Schroders and BGI lose £135m mandate

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