EFM loses out in Bank of Scotland fund reshuffle

Bank of Scotland Pension Scheme has dispensed with the services of Edinburgh Fund Managers (EFM), making this the second high-profile mandate that the Scottish firm has lost in as many weeks.

The move follows a reshuffle by the £1.2bn (€1.7bn) pension scheme after a comprehensive review of its investment structure in an attempt to achieve greater diversification.

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