Kent County Council Superannuation Fund, Maidstone, England, issued an RFI for long-only active global equity managers to be included on a preapproved list, said Nick Vickers, head of financial services at the £3.4 billion ($5.2 billion) fund.
Kent County Council has an estimated £1.1 billion allocation to global equities. About 78% is managed actively by Baillie Gifford, GMO UK, Impax Asset Management and Schroder Investment Management. The remainder is managed by State Street Global Advisors in a passive strategy.
There are no immediate plans to change to the current manager roster; the new framework agreement is mainly to allow more flexibility, Mr. Vickers said in a telephone interview. If funded, the expected mandate size for new managers will range from £150 million to £200 million.
Proposals are due March 18. Further information can be obtained from investment consultant Hymans Robertson by e-mail at [email protected]. Manager selections are expected to be announced in summer.