Norfolk County Council Pension Fund, Norwich, England, is searching for an active global equity manager to run £125 million ($195 million), said Alexander Younger, pension fund accountant.
The global mandate is new and is being implemented because it offers broader investment opportunities, Mr. Younger said.
Funding will come from reducing a £300 million passive U.K. equity portfolio; Mr. Younger would not name the manager.
The £2 billion fund is cutting its U.K. equity exposure in an ongoing effort to decrease its home-country bias across all asset classes, Mr. Younger said.
Proposals are due Sept. 17. A selection is expected in February. Further questions may be sent to Mr. Younger via e-mail at [email protected]