UK - The £1.1bn (€1.47bn) Northamptonshire County Council pension fund is reviewing its investment consultant and actuary Mercer, following its decision to split the joint mandate.
A spokesman for the fund told IPE: "Our market intelligence suggests that there is a bigger market for suitable investment consultants that we could tap into, if we tendered two contracts."
According to the fund, the office tender has been done as a matter of process, there is a cyclical tendering process every three years.
Northamptonshire's asset allocation currently holds 34.5% in UK equities, while 34.5% are held in overseas equities, 8% in property, 7.8% in bonds 10.2% in gilts and 5% in hedge funds.
The fund says any changes to this allocation will be subject to an asset liability study following its 2007 actuarial valuation. No tenders are currently planned, the spokesman added.
Last August the fund tendered for managers for a new £200m overseas equity portfolio. The spokesman said no appointments have been made yet.
If you have any comments you would like to add to this or any other story, contact Carolyn Bandel on + 44 (0)20 7261 4622 or email email@example.com