Merseyside Pension Fund, Liverpool, England, rehired J.P. Morgan Asset Management and Unigestion to manage European ex-U.K. equity allocations, said an announcement on European procurement website Tenders Electronic Daily.
The allocation represents 5.5% of the £5.9 billion ($9.9 billion) pension fund, or about £325 million.
An RFP was issued in February.
According to the 2012/2013 annual report, J.P. Morgan Asset Management ran £172 million in European equities for the fund, while Unigestion managed £224 million in European equities and pooled emerging markets funds. The two asset classes were not split out. The pension fund also managed a £148 million European equities allocation in-house, as of March 31, 2013.
A spokesman for the pension fund did not respond to requests for comment by press time.