Barnsley looks for managers for cash reserves

Barnsley Metropolitan Council has £30m ($48m) of cash reserves to invest and will be appointing one of two fund managers this month", according to Neil Copley in the council's banking and services department.

Five fund managers have been shortlisted from "a long list of small and big fund managers" and the council will be looking for performance on global and emerging markets.

The council has recently renewed its contracts with The Co-op Bank for banking services which Copley says "do not include global custody services". Perhaps the council will be in the market for global custody as well when a new fund manager is in place."

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