Pension Protection Fund, Croydon, England, issued an RFI for at least one manager to run about £100 million ($197 million) in global equities, confirmed spokesman Richard Hunt.
Funding will come from new cash inflows to the £1.7 billion fund. Officials have not decided whether to implement an active or passive strategy, Mr. Hunt said. The PPF, which is the U.K. equivalent of the PBGC, has about 7.5% of its assets in an active global equity portfolio managed by Newton Investment Management.
Proposals are due Aug. 29. A manager is expected to be appointed early next year. Mercer is advising.