Northern Ireland Local Government Officers’ Superannuation Committee, Belfast, is searching for an active global equity manager to run £180 million ($294 million), said Deane Morrice, CEO and secretary for the £3.2 billion fund.
Funding will come from reducing Legal & General Investment Management’s passive global equity strategy. “We feel now is the time to move back into active management,” Mr. Morrice said. LGIM will continue to run about £1.2 billion passively, including about £600 million in global equity.
Investment consultant Hewitt Associates is assisting.
Proposals are due Feb. 17. A manager is expected to begin Oct. 1, Mr. Morrice said. Further information is available by sending an e-mail to the committee’s investment and governance manager, Nicola Todd, at [email protected]