Barclays Global Investors has lost half of its bond mandate with the £1.2bn (€1.9bn) T&N pension scheme, after the fund decided to allocate some of its portfolio to active management.

BGI, one of the most successful and largest passive managers in the UK, lost £200m after T&N, advised by Watson Wyatt, split its bond portfolio into both active and passive.

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Pedro Guazo, who joins in August, will also oversee the $1.3tn asset manager’s responsible investment platform globally

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BGI loses £200m bond mandate at UK fund

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