Wiltshire Pension Fund, Trowbridge, England, is searching for an exchange-traded funds manager.
The £3.2 billion ($3.9 billion) pension fund said in a notice published on procurement website ProContract that it was looking for a manager to provide a portfolio of ETFs "which attempts to track the overall strategic asset allocation return."
The ETFs will account for about 1% to 2% of the portfolio, equating to around £45 million, a Wiltshire Council spokeswoman said in an email. There is no existing provider and the search “is a new requirement in light of the need to realize cash at short notice to fund capital calls into our growing private markets portfolios,” she said.
The pension fund's long-term strategic asset allocation is 34.5% equity, 32.5% income-generating assets, 25% protection assets and 8% alternative growth assets.
The notice is available on the ProContract website. Proposals are due Sept. 16. The contract is set to begin in October.
