Norfolk County Council Pension Fund, Norwich, England, issued an RFP for at least one passive U.K. equity manager to run a total of at least £125 million ($188 million), according to an announcement posted on procurement platform Tenders Electronics Daily.
Both market capitalization and fundamental indexes will be considered, according to the posting.
Proposals are due April 16. Further information is available from investment consultant Hymans Robertson via e-mail at [email protected]
Glenn Cossey, investment manager for the £1.5 billion fund, could not be reached for comment by press time. According to the fund’s latest annual report, as of March 2009, Baillie Gifford ran 11.4% of plan assets in active U.K. equity while AllianceBernstein managed 9.4%. No passive U.K. equity managers were listed.
Overall, the fund’s target asset allocation was 65.5% equities, 18% fixed income and 15% real estate, with the remainder in active currency, according to the annual report.