Cornwall County Council Pension Fund, Truro, England, issued RFPs for a global custodian and for managers for a £134 million ($203 million) specialist equity portfolio and a £61 million specialist bond portfolio, said Vic Lush, investment officer for the £616 million plan. Proposals are due by October, and a decision is expected in March.
The new managers will replace Merrill Lynch Investment Managers, which ran a £195 million balanced portfolio. Trustees were disappointed by Merrill Lynchs performance, but the firm may rebid, said Mr. Lush. Merrill Lynch would not comment on client matters, said spokesman Jonathan Ruck Keene.