The 250 million ($380 million) Northumberland County Council Superannuation Fund, Morpeth, England, may replace one of its two balanced managers or add a third to its lineup, said David Hutchinson, chief accountant. The fund issued a tender notice seeking interest from managers by May 3. Mercury Asset and Baring Asset each run about half of the fund in global balanced portfolios.
Mr. Hutchinson said the fund might stick with its existing arrangement, or it might replace one manager or split its mandate with the new balanced manager. He declined to say which manager might be replaced or reduced. Any new arrangements should be in place in September. Watson Wyatt Worldwide is assisting.