Searches and Hires

Merseyside Pension Fund casting for equity overlay managers

Merseyside Pension Fund, Liverpool, England, is looking for providers of equity overlays to control equity risk for an initial period of 18 months, according to a notice on European procurement website Tenders Electronic Daily.

Merseyside is considering the possibility of hiring an overlay manager on a long-term strategic basis. The £8.2 billion ($11 billion) local authority pension fund is seeking managers with offerings from basic put protection to more complex strategies such as put-spread collars, the notice said. The asset owner prefers cost-neutral put-spread collar strategies.

Submissions are due Aug. 1 at noon British Summer Time.

A spokesman could not be reached to provide additional details.