THE £330m Royal Borough of Kingston upon Thames Pension Fund is restructuring its entire portfolio following an investment review.
The scheme has gone out to tender for a manager to run a £130m global equity core mandate, which would aim to outperform the MSCI All Country World Index by between 1.5 and 2 percentage points per annum.
The fund was also looking for a managers to run a £85m global equity high alpha portfolio, to outperform the MSCI All Countries World Index by 2.5 to 3 percentage points per annum; and a £65m global equity unconstrained brief, to outperform the MSCI index by at least 3.5 percentage points per annum.
It said it was also looking for a fund management firm to run a £50m UK bonds portfolio, which would aim to outperform the iBoxx All Stocks Non-Gilts Index by 0.5 percentage points per annum.
The scheme said the restructure comes after the completion of an investment review, where it was decided the fund should abandon its largely passive investment strategy and replace it with a more active alternative.
The deadline for tenders is July 31.
© Incisive Media Ltd. 2008
Incisive Media Limited, Haymarket House, 28-29 Haymarket, London SW1Y 4RX, is a company registered in the United Kingdom with company registration number 04038503
