Royal Borough of Kensington and Chelsea Pension Fund, London, is searching for one manager to run up to £40 million ($65 million) combined in passive global equities and passive index-linked U.K. gilts, a spokesman for the council confirmed.
The amount in each asset class has not been determined, the spokesman said. The £355 million plan is expected to expand the portfolio’s assets and investment classes over the next 12 to 18 months as part of a move to increase passively managed assets, the spokesman said
Funding for the current and future passive investments comes from cash.
Responses are due by Oct. 12. Further information is available via e-mail at [email protected] Investment consultant Hymans Robertson is assisting.