UK - The £3bn (€4.5bn) Northern Ireland Local Government Officers' Superannuation Committee (NILGOSC) has launched a search for two unconstrained or high alpha managers.
Both a UK and global equities mandate each worth between £100m to £250m (US$204.6m to $511.6m) are available.
A spokesman from NILGOSC told Global Pensions the fund was seeking to diversify its investment opportunities by offering these new holdings to tender.
To be considered for the mandates, managers must be regulated by the UK's Financial Services Authority (FSA) or by the Securities and Exchange Commission (SEC) in the US.
The manager must have at least £400m in assets under management in the geographical area for which he is applying for the portfolio.
Also, managers should apply segregated or a minimal pooled structure to their asset management.
Interested parties should contact Lisa Ho at Hewitt on +44 1372 733363 or [email protected]
Expressions of interest and pre-qualification questionnaires should be received by 5pm, August 3, 2007.
In a separate development, JPMorgan lost out to HSBC which was appointed as custodian for the 74,688-member fund which administers the Local Government Pension Scheme for Northern Ireland, it was revealed last week.
PTL has appointed Karein Davie as a client director in its Birmingham office.
The level of interest rate hedging increased to £29.5bn of liabilities in the second quarter as pension funds continued to de-risk, according to BMO Global Asset Management's research.
UK inflation has risen for the first time since November to 2.5% in July, up from 2.4% in June, thanks to rising fuel costs and the price of computer games.
The number of DB pension scheme trustees targeting a buyout with an insurer has increased significantly in the past five years, latest research from Willis Towers Watson shows.