UK - The North Yorkshire County Council pension fund has placed a £250m ($499m) global equities mandate out to tender, due partly to disappointment with Barclays Global Investors (BGI).
Neil Sellstrom, principal accountant, North Yorkshire Pension Fund, told Global Pensions the move to place the mandate out to tender was partly motivated by poor performance of BGI over the past year, although he added BGI was not excluded from the re-tender process.
He added the new asset manager would be in place by September or October this year.
Sellstrom said the fund didn't have any holdings in alternative assets, but was considering a move into this space over the course of the year. BGI was unavailable to comment.
The London Borough of Newham has also placed £160m out to tender in two unconstrained global equities mandates. No-one from Newham was available for comment.
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