Berkshire Pension Fund expands Kames Capital’s global equity income mandate

Kames Capital has been awarded an additional £85m to manage on behalf of the Royal County of Berkshire Pension Fund within its global equity dividend growth strategy.
Kames Capital has run the mandate for the Berkshire Pension Fund since being appointed in 2012, with this latest increase taking the total amount it manages for the Fund to £200m.
Launched in 2010, Kames Capital’s global equity income strategy targets an average dividend yield of around 130% of the MSCI AC World Index, as well as aiming to deliver income growth in excess of the UK’s headline inflation rate, the Consumer Prices Index.
It is managed by Mark Peden and Douglas Scott, with the duo supported by Kames Capital’s 26-strong equities team. One of the most experienced teams in the global equity income sector, it boasts an average tenure of 19 years as investment managers.
Nick Greenwood, pension fund manager at the Royal Borough of Windsor and Maidenhead, the administering authority for the Royal County of Berkshire Pension Fund, said: “We have been impressed with the depth and rigour of Kames Capital’s global equity income process and we are confident in the team’s ability to deliver a reliable and sustainable income stream, with the potential for long-term capital growth.”
Mark Peden, co-manager of the portfolio, said: “We are delighted that the Royal County of Berkshire Pension Fund has made this additional investment. The success of this strategy is rooted in our belief that equity markets underappreciate persistency and the long-term value created from compounded returns. Companies with these attributes form the core of our equity income portfolios, which aim to deliver outperformance with a lower level of risk.”