City of London Corp. is searching for an investment consultant to help it in a strategic review of investments, said Paul Mathews, corporate treasurer.
The contract of current consultant John Woods & Associates expires March 31. The firm can rebid.
The firm is the current investment consultant for City of London, which oversees investments for the £430 million ($707 million) pension fund, the £320 million City's Cash endowment fund, and the £300 million Bridge House Estates foundation.
The new consultant will assist pension trustees in deciding, among other things, whether to implement a strategic asset allocation. Pyrford International currently runs £210 million and Ruffer handles £130 million, both in discretionary multiasset accounts for the three city funds.
Because those managers control which assets they invest in, trustees are unable to set a strategic asset allocation, Mr. Mathews said, although the managers have “both done exceptionally well over the past 18 months.”
Proposals are due by Dec. 21. Further information is available by contacting Mr. Mathews at [email protected]