LGPS Central Ltd., Wolverhampton, England, is searching for an emerging market equity manager to manage an allocation in excess of £100 million ($121 million), according to its website.
The pool of U.K. local authority pension funds that collectively have £55 billion in assets said the selected manager will use a fundamental approach and incorporate sustainability into its investment process.
Active emerging market equity managers with a minimum of £250 million of external investor money as of Sept. 30 and a three-year track record will be considered.
Investments will be benchmarked against sterling denominated FTSE Emerging Index and will be required to return 2% above the benchmark per year net of fees.
The pool had 13.4% of its assets invested in listed equity as of March 31.
The pool's multimanager run emerging market equity allocation initially launched in 2019. Managers BMO Global Asset Management, UBS Asset Management and Vontobel Asset Management jointly manage the allocation.
To participate in the procurement, managers must be registered via a portal and complete a questionnaire by midday on Jan 13.
Successful managers will be invited to the next stage.
A spokesman could not be immediately reached to provide more details.