It is believed that Strathclyde transferred £500m in stocks to Legal & General and £50m to Capital International.
The fund's chief pensions officer, Richard McIndoe, is quoted by Bloomberg as saying that it was a 'whole chain of events' that prompted the move. He stated that 'it was partly a decision about performance and Schroders also has seen a lot of changes that culminated in the CEO's departure.'
The fund currently has £6bn in assets and Schroders is still believed to manage around 15% of these, down from 25% at the peak.
Schroders would neither confirm or deny the details about the Strathclyde funds.
Schroders Said To Lose Major Business
Bloomberg reports that Europe's third-largest pension fund manager, Schroders, lost £550m in assets late last year as Strathclyde Pension Fund shifted money elsewhere.
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