Cardiff commences active currency search

Cardiff (Wales) & Vale of Glamorgan Pension Fund issued an RFP for at least one active currency manager to run a total of up to £40 million ($78 million), said Richard Bettley, pension fund manager. It’s the £899 million pension fund’s first investment in active currency. Funding will likely come from cash, Mr. Bettley added. Fund officials plan to hire a manager by the end of the year. Further information can be obtained from consultant bfinance at http://www.bfinance.co.uk.