UK - The £800m Clwyd Pension Fund is tendering UK core equity, global unconstrained equity and global unconstrained fixed income mandates worth approximately £265m.
The tender for pension investment services was issued following a review of the fund’s performance in the various areas.
No fundamental structural adjustments were to be made. The changes will be in the method of delivery which will aim to introduce further diversification from traditional asset classes and reduce the constraint on such areas.
The review also called for the use of new investment approaches, tools and products to improve returns further and reduce volatility.
"This modified approach and capacity constraints in certain existing products will result in the following mandates being tendered," a fund spokesperson said.
Along with the three briefs tendered, the fund plans to advertise for the management of another four mandates - UK equity high alpha, unconstrained fixed interest, global tactical allocation fund and commodities.
"The aim is to have the mandates in place by 1 April 2007," concluded the spokesperson.
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