UK - The £495m Oxfordshire County Council Pension Fund has put its entire funds up for tender after dropping its two balanced managers.
Schroder Investment Management and Deutsche Asset Management have run the fund’s assets on a 50-50 basis.
But the council is now looking to move to a specialist manager structure.
The decision followed a review conducted by the fund’s investment consultant, Hymans Robertson, which followed an asset liability study by Watson Wyatt.
Oxfordshire investment manager Tony Wheeler said: “We decided the existing structures wasn’t really appropriate going forward.
“So what we’re doing is moving to a more specialist structure and putting the entire fund up for tender.”
The council is looking for managers to run £145m in a specialist global active equities mandate, £105m as a specialist active UK equities mandate, an active fixed income portfolio worth £75m, a £25m in property and £145m in an active multi–asset brief.
The deadline for expressions of interest is February 3.
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