Corporation of London issued an RFP for six managers to run its entire £800 million ($1.4 billion) in pension plan assets in new absolute-return strategies, said Colin Duck, corporate treasurer. The municipality "has concluded that index-related benchmarks have no relation to paying pensions," Mr. Duck said. The scheme has 88% of its assets in equities and 12% in fixed income and cash, according to its website. Each manager will run about £130 million, he said. Current managers Baring, Fidelity, Gartmore, State Street Global Advisors and Wellington were invited to rebid. Responses are due Jan. 5; selections are expected in April or May.