Searches and Hires

Brunel Pension Partnership seeks emerging market equities managers

Brunel Pension Partnership, Bristol, England, is searching for emerging market equities managers to run about £1.1 billion ($1.4 billion).

The £30 billion pool of local government pension scheme assets launched the search following a pre-search in November. At that time, it requested that interested money managers register with the pool by email for search documents and a submission template.

The pool is looking for managers to meet a 2% to 3% performance target, a news release said. The pool expects to hire three or four managers to run £200 million to £500 million each, confirmed a spokeswoman for the pool.

"Managers will be afforded considerable flexibility, including the ability to invest outside the benchmark, in frontier markets, smaller companies and developed market companies with significant emerging market exposure, but they should be able to cover the core emerging markets to start with," said Mark Mansley, chief investment officer at Brunel, in the news release.

Proposals are due Jan. 25. Brunel said more than 100 money managers have already registered. At the time of the pre-search, the pool also asked managers to provide strategic research and thought pieces on investing in emerging market equities.

Brunel is being assisted throughout the process by investment consultant Redington and manager skill analysis firm Inalytics.

Brunel invests on behalf of 10 councils' LGPS funds: Avon, Buckinghamshire, Cornwall, Devon, Dorset, the Environment Agency, Gloucestershire, Oxfordshire, Somerset and Wiltshire.