UK - Hampshire County Council pension fund has tendered for a global custodian to look after its £2.2bn in assets.
The fund does not have a global custodian at present, but Hampshire County Council forward planning manager David Wilson said this had increasingly become a recommended practice.
“We want direct contact with a global custodian, and want all our investments in one place. There are a number of advantages to having a global custodian,” he said.
In the official tender notice, the council said it was “currently reviewing the arrangements for global custody services of its pension fund assets.”
The consultants on the tender process are Hewitt Bacon and Woodrow, and the submissions deadline date is 27 November, 2005.
This week's edition of Professional Pensions is out now.
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