The Manx Government has opted for Scottish Widows to manage a ?150 million portfolio for its National Insurance Investment Account.
After what's been described as "a rigorous tender process as part of the Isle of Man government's five-yearly external investment review" Scottish Widows Investment Partnership has won a mandate from the Manx portfolio.
It will be managed by SWIP's head of global strategy, Ken Adams, who, its reported , will attempt to outperform the Bank of England base rate by 2.5 percentage points a year on rolling three-year periods.
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