Shropshire County Council Pension Fund, Shrewsbury, England, issued an RFP for a manager to run $80 million in enhanced indexed U.S. equities, said Philip Guy, council treasury and pensions manager. Officials for the £640 million ($1.04 billion) plan will make a selection by August, he said.
"We have decided to go for the enhanced passive manager to reduce active risk but to get some excess return, Mr. Guy said; previous manager J.P Morgan Fleming Asset Management, which ran the portfolio actively, "wasnt entirely successful, he said. A J.P. Morgan Fleming spokeswoman said the firm would not comment directly on client activities.
Frank Russell is assisting.