Merseyside Pension Fund, Liverpool, England, is looking for providers of equity overlays to control equity risk for an initial period of 18 months, according to a notice on European procurement website Tenders Electronic Daily.
Merseyside is considering the possibility of hiring an overlay manager on a long-term strategic basis. The £8.2 billion ($11 billion) local authority pension fund is seeking managers with offerings from basic put protection to more complex strategies such as put-spread collars, the notice said. The asset owner prefers cost-neutral put-spread collar strategies.
Submissions are due Aug. 1 at noon British Summer Time.
A spokesman could not be reached to provide additional details.
