Having tested the water last year, the London Borough of Croydon is now offering a mandate for a global active portfolio manager. The firm appointed will manage a portfolio of up to £60m ($100.5m).
We're not looking for a consensus manager who tinkers around the edges,"says Ivan White, Croydon's treasury and investment manager, "We want one who's strong in a particular field". A preliminary search last August unearthed one or two likely candidates, though others will also be considered, he says. Incumbent managers Legal & General have done very well for the authority on the index basis, White says. Legal & General may be reappointed if they can exhibit the key qualities the authority is looking for, he says."