UK - The £1.1bn North Yorkshire Pension Fund is tendering a new global tactical asset allocation mandate.
The fund is seeking a manager for a £44m overlay portfolio to add value through asset allocation decisions.
Following a reshuffle of its investment strategy, the fund abandoned its balanced portfolio and moved towards bringing on board specialist fund managers.
Last year Henderson Global Investors lost a £190m global balanced mandate with the fund on the back the strategy review.
Baillie Gifford, Barclays Global Investors and Standard Life all retained their foothold over the course of the reshuffle.
The deadline for expressions of interest is 31 August 2006.
By Angele Spiteri Paris
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