Hampshire County Council Pension Fund, Winchester, England, is seeking eight to 12 asset managers to run its entire £2.5 billion ($4.3 billion) portfolio of equities, bonds and real estate, said Dave Wilson, forward planning manager. Contracts of the fund's current managers have expired and all are invited to rebid. Schroder Investment Management, Aberdeen Asset Management and Société Générale Asset Management run £1 billion, £875 million and £500 million, respectively, in equities and bonds, and Cordea Savills manages a £125 million specialist real estate portfolio.
The current asset allocation is about 70% equities, 25% bonds and 5% real estate. The council is considering decreasing equity exposure to 65% and increasing real estate to 10%, although "the final structure has not been decided," he said.