Strathclyde Pension Fund, Glasgow, Scotland, is searching for an active emerging markets debt manager to run £250 million ($327.6 million), said an announcement filed with European procurement website Tenders Electronic Daily.
The £16 billion pension fund will “invest in a range of emerging market debt categories, including local and hard currency sovereigns and corporates,” the posting said.
The pension fund approved its first allocation to emerging markets debt in June. Richard Keery, investment manager, said at the time in an e-mail that the emerging markets debt allocation addition is the final piece of the first part of a multistage strategic shift for the pension fund to enhanced yield, both mid and long term, from equities.
Proposals are due at noon GMT Aug. 29. The pension fund hopes to make a decision in December, a pension fund spokesman said in an e-mail.
The posting is available on TED.
