Leeds University Pension Fund, Leeds, England, is looking for a manager to run a £90 million ($126 million) balanced portfolio currently handled by Schroder Investment Management. Trustees for the £180 million plan issued an RFP and hope to draw up a shortlist by February, said Helena Smith, pension scheme registrar. The deadline for proposals was not available.
Trustees decided to review Schroder because it had underperformed the plans CAPS Median benchmark on a five-year basis. Schroder will be allowed to rebid.
Gartmore Investment Management continues to run a similar £90 million balanced portfolio.
Schroder officials could not be reached for comment by press time.