Royal Borough of Kensington and Chelsea Pension Fund, London, is searching for a global custodian for its £410 million ($605 million) fund, according to an advertisement on Tenders Electronic Daily, a European public procurement platform.
About 68% of the fund is invested in equity and another 21% is allocated to bonds. The remainder is in cash and other assets, according to a published statement on investments as of March 31.
Proposals are due Jan. 21. Additional information can be obtained from consultant Hymans Robertson. Alex Robertson, pension fund accountant, could not be reached by press time for further details.