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Flintshire tenders for 153 million euro mandates

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UK - Flintshire County Council in Wales has put out to tender four mandates for the 450 million pound (682.8 million euro) Clwyd pension fund.

The total amount to be tendered for the fund is approximately 105 million pounds (153 million euro), comprising four mandates:

A 50 million pound (73 million euro) European ex-UK equities mandate

A 25 million pound (36.5 million euro) US enhanced index equities mandate

A 10 to 20 million pound (14.6 to 29.2 million euro) fund of hedge funds mandate

A 10 to 20 million pound (14.6 to 29.2 million euro) currency mandate

A spokesman at the fund confirmed that the money is mainly from previously managed funds in US and European equities, and that the mandates had arisen from the results of a fundamental fund management review which is carried out every three years.

Applications must be received by midday 15 December 2003.

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