UK - Two council briefs held by Deutsche Asset Management have been put out to tender.
The London Borough of Barking and Dagenham Superannuation Fund is looking for a manager for a £160m specialist active global equity mandate. DeAM currently manages the entire £290m fund.
And the £675m Rhondda Cyon Taff Council has put a £330m balanced equity mandate, currently managed by DeAM, out to tender.
Tenders for first-time fiduciary management mandates will be mandatory, must be conducted on a closed basis, and will apply to any mandate for over 20% of a scheme's assets, the Competition and Markets Authority (CMA) has confirmed.
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