UK - The £860m West Sussex County Council Pension Fund is seeking a global custodian to take responsibility for around £710m of its assets.
The scheme is currently reviewing its custody arrangements and wants a global custodian for the assets that are managed on an active basis by its two balanced managers, UBS Global Asset Management and Baillie Gifford.
The five-year contract will cover the £335m managed by Baillie Gifford and is likely to extend to covering UBS Global, which also has a £335m mandate.
The remainder of the scheme’s assets – which are invested in private equity and directly-owned property – will not be covered by the contract.The deadline for expressions of interest is April 10.
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