UK - The £2bn Kent County Council pension fund today tendered to appoint investment managers for mandates valued up to £450m.
The mandates will be for active global equity management; and the benchmark will be predominately global equities but may include an over-representation of UK equities.
Kent Country Council financial services head, Nick Vickers, said the tender formed part of a strategic realignment at the council. “We are shifting to a 50-50 UK /overseas equity weighting, so that means changes to some of our existing mandates.”
“This will entail moving about £200m more into overseas equities from the UK side, and the council will take this opportunity to look at a few manager mandates at the same time,” he said.
“The existing managers, will be re-tendering and we also will take a look at new managers. It is just a strategic re-alignment.”
Paul Budgen is set to join financial technology and auto-enrolment (AE) firm Smart Pension as director of business development.
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