Hertfordshire County Council pension fund eyes multiasset alternatives

Hertfordshire County Council Superannuation Fund, Hertford, England, issued an RFI for a manager to run from £200 million ($318 million) to £300 million in multiasset alternatives, according to European procurement website Tenders Electronic Daily.

Managers will be expected to run a diversified alternatives portfolio that includes a broad range of asset categories such as active currency, commodities, emerging markets debt, global tactical asset allocation, high-yield bonds, infrastructure, private equity and timberland.

“The tender is part of new strategy for the Hertfordshire pension fund, which is seeking to diversify asset classes and reduce risk by introducing alternative assets and management styles,” said Mike Parsons, director of resources and performance at Hertfordshire County Council. “We believe this approach will enable the fund manager to be very responsive to opportunities and provide the flexibility needed to exploit the very wide range of investment opportunities within the broad alternatives asset class.”

Proposals are due April 30. Further information can be obtained from the £2.4 billion fund's website.