Lancashire County Council Pension Fund, Preston, is searching for up to six specialist investment consultants as officials prepare to revamp investments at the £4 billion ($6.4 billion) fund, said Mike Jensen, chief investment officer.
The specializations have not been set but likely will include asset-liability strategy and derivatives hedging, Mr. Jensen said. The fund does not have a general investment consultant.
Fund officials might search for new managers once a new investment strategy is in place. “Certainly there are likely to be allocation changes,” Mr. Jensen said. Internal investment staff suggested the revamp after a review found that the fund's existing strategy “wasn't fit for the current environment,” he said.
Proposals for the consultants search are due Nov. 26, with hirings expected in early December, Mr. Jensen said. Questions should be sent via e-mail to [email protected]