Flintshire County Council Clwyd Pension Fund, Mold, Wales, issued an RFP for at least one manager to run a total of £40 million ($66 million) in a hedge fund-of-funds portfolio, according to a posting on Tenders Electronic Daily, a European public procurement platform.
The target return for the portfolio is 3% to 5% net of fees above the three-month London Interbank Offered Rate, or 8% to 15% on an absolute-return scale on a rolling three-year basis.
Proposals are due Aug. 3. Consultant bfinance is advising. More information can be obtained from http://www.bfinance.co.uk.
Philip Latham, head of pensions at the £898 million fund, could not be reached for further information.