UK - The London Borough of Hackney is searching for a pension fund administrator.
The £460m fund hopes to have the new arrangement in place by the end of March next year. The contract is for administration only and will span five years.
Jim Whitton, interim investment officer, declined to name the current administrators, but said that the review was not as a result of performance concerns.
As reported recently by IPN, the fund also got the go-ahead to hire an investment consultant to search for new managers, probably to run bonds, following an asset allocation study.
Hackney is currently conducting a global asset liability study which will be completed in Q2. The fund’s external investment arrangements are currently handled by Barclays Global Investors. Tenders for one or more managers will be issued after June 1. By Madhu Kalia
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