Wiltshire County Council Superannuation Fund, Trowbridge, England, is searching for at least one absolute-return manager to run £100 million ($156 million), according to Tenders Electronic Daily, a European procurement website.
The fund is looking for multiasset long-only managers that will focus primarily on “mainstream” asset classes and deliver returns of 300 basis points above LIBOR over rolling three- to five-year cycles, according to the website.
Hedge funds and hedge funds of funds won’t be considered.
The fund plans to sign managers to a framework agreement to last four years. A framework agreement involves signing multiple managers as reserves, then selecting one or more managers for funding from the preapproved list.
Proposals are due Nov. 7. Investment consultant Hymans Robertson is assisting.
Neither David Anthony, pensions manager at the £1.3 billion fund, nor Alan Purdie, manager research analyst at Hymans Robertson, could be reached for further information.
