JPMorgan announced that it has completed an asset restructuring for the North Yorkshire Pension Fund.
Following a review of investments, the £880 million North Yorkshire Pension Fund has moved from balanced to specialised equity and fixed income benchmarks and made a number of fund manager changes.
Neil Sellstrom, technical accountant at the North Yorkshire Pension Fund, said, “JPMorgan offers a compelling proposition that provided us with confidence that it could successfully manage the complex restructure of our investments. We selected JPMorgan because of its highly transparent approach to transition management, its expertise across all asset classes and the significant synergies to be gained from its Worldwide Securities Services business acting as our global custodian. The transition was successfully delivered within JPMorgan’s pre-trade estimate and project timetable.”
John Minderides, head of JPMorgan Transition Management in Europe, said, “We are delighted that the trustees of the North Yorkshire Pension Fund selected JPMorgan to manage this transition.”