The University of Bristol is seeking a manager for its £60 million ($73.7 million) endowment fund.
The endowment’s investments are now held in two portfolios that have identical asset allocations. The Bristol, England, university intends to award a single contract to one provider to manage both portfolios. The current managers and allocation details could not be learned by press time.
According to the university investment policy guidelines, a selected endowment fund should be invested in a diversified portfolio with no excessive exposure to any specific sector or industry. The university will not invest in entities that generate more than 10% of turnover from the production of cigarettes or tobacco products.
A spokesman for the university was not available to comment by press time.
The RFP is on the European procurement website, Tenders Electronic Daily.
Submissions are due April 7, at noon British Summer Time.
The contract is expected to be awarded by June 23 and will last five years, said the university website. It could be extended by another five years.