Norfolk County Council Pension Fund, Norwich, England, will search for providers of investment performance and cost monitoring, and reporting services to join a multiprovider framework for local government pension schemes.
The search is on behalf of the £2.9 billion ($3.8 billion) Norfolk pension fund and four other local authorities. It is also on behalf of the London collective investment vehicle, a pooled investment strategy for local authority pension funds.
Information filed on the council's procurement website said the framework, subject to change, will be split into three contracts: investment performance monitoring; a single provider of local government pension scheme investment performance comparison and reporting services; and a single provider of investment management cost monitoring and reporting services.
The other pension funds are the £6.9 billion Wirral Borough Council, £4 billion Essex County Council Pension Fund, £3.8 billion Staffordshire County Council Pension Fund and the £1.9 billion Carmarthenshire County Council.
An executive at the council referred questions to the procurement website.