Fife Council Pension Fund, Glenrothes, Scotland, issued an RFI for managers to be included in a framework agreement, or preapproved list of managers, to manage an active, long-only global equity portfolio, said Katrina Evans, banking and investment team leader for the £1.28 billion ($2 billion) pension fund.
Ms. Evans declined to specify the size of the overall portfolio and how it will be funded because decisions have not been finalized. Information from tender documents reveals that each mandate will range between £100 million and £250 million.
According to the pension fund's latest annual report for the year ended March 31, 2011, AllianceBernstein, Baillie Gifford and Lazard Asset Management managed global equity strategies estimated to be about £212 million, £154 million and £214 million, respectively.
Proposals are due March 19, and further information can be obtained at www.publiccontractsscotland.gov.uk/Search/show/Search_View.aspx?ID=FEB108609.Appointments are expected in the fall, Ms. Evans said.
Hymans Robertson is advising.