UK - Hertfordshire County Council Pension Fund has issued a £200m tender for a global equities manager.
The move followed the decision by the fund's investment committee that its portfolio should further reflect the globalisation of equity markets.
Nicola Webb, Hertfordshire County Council's finance manager, said: “A decision has been taken to restructure the fund's equity holdings from 60% in the UK [and] 40% overseas, to 60% overseas, [and] 40% UK.”
She said the estimated £200m would be taken from current UK equity holdings, but admitted it had not yet been confirmed how the managerial allocation process would occur.
The pension fund said it would look to appoint a manager by April 2008.
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