The Flintshire (Wales) County Council Clwyd Pension Fund issued RFPs for three managers to run a total of £265 million ($500 million), according to spokesman Delwyn Evans. The RFPs are part of the £800 million pension plan's move toward unconstrained and higher-alpha strategies.
One manager will run £120 million in U.K. equities, another firm will handle £105 million in unconstrained global fixed income, and a third manager will run £40 million in unconstrained global equities, said Olivier Cassin, consultant at bfinance, which is advising the fund. Mr. Evans would not say which managers are currently running the assets, but added that they can rebid.
Proposals are due Oct. 2; selections will be made by the end of January 2007. Additional information is available from bfinance via e-mail at [email protected]