UK - Invesco is up for review at the £483m Cardiff & Vale Glamorgan Pension Fund following a move to tender a £29m Far East equities portfolio.
Invesco, which has been with fund for around 10 years, previously held two separate mandates for Cardiff: a £17m Japanese equities portfolio and a £12m Asia brief. The review is based on a decision to merge the portfolios with a target of approximately 3% above the benchmark.
According to the fund, candidates should have a specialist Japan/Asia equities service and at least £300m under active management.
Deadline for applications is February 8. The contract is expected to commence within six months of the closing date and is of no fixed duration.
The Cardiff & Vale Glamorgan Pension Fund is administered by the County Council of the City and County Council of Cardiff.
No consultant is being used in the process.
By Madhu Kalia
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