The Open University, Milton Keynes, England, hired Newton Investment Management to set up and run a new long-term investment fund.
The new £50 million ($69 million) fund will complement the university's existing long-term investment portfolio. Details on the existing portfolio were not available.
The new fund will be managed under one or more styles — index, ESG, thematic and value, said a notice posted on European procurement website Tenders Electronic Daily.
The university also hired Troy Asset Management to run its £40 million to £45 million wealth preservation fund. The fund is managed to achieve a minimum target total return with minimal volatility. Information on the incumbent provider was not available.
A search was launched in July.
Spokesmen could not be reached for comment.
