Nordic university and local authority funds continued their hunt for traditional balanced managers during the second quarter of the year, while other investors in the region sought diversification in illiquid alternatives.

During the first quarter of 2024, MandateWire reported on the activity of 39 individual local government pension schemes and six LGPS pools.

There was a clear divide between the actions of the 45 UK corporate pension funds and master trusts surveyed during the first quarter of 2024. While individual pension funds remain focused on de-risking and bulk insurance strategies, master trusts, with their longer investment horizons, concentrated on illiquid alternatives.