West Sussex County Council Pension Fund, Chichester, England, issued an RFI for a multiasset manager to run a £790 million ($1.3 billion) balanced portfolio, according to the European procurement website Tenders Electronic Daily.
The £2 billion pension fund currently has about £1.7 billion managed in balanced portfolios split almost equally between UBS Global Asset Management and Baillie Gifford, according to its annual report for the year ended March 31.
Information about which manager's portfolio is being retendered was not available by press time, but according to the annual report, UBS's contract ends at the end of the year.
Proposals are due Oct. 24. Further details are available from the website. Rachel Wood, pension fund investment strategist, could not be reached by press time for additional information.