UK - The £4bn (€6bn) Merseyside pension fund is looking to find an integrated accounting system which combines keeping track of the pension contributions inflow as well as the fund's investments.

"We want to be able to keep better track of our different assets like bonds, buildings, private equity and their allocations," Guy Hayton, head of operations at the fund, explained to IPE.

"The system should check movements in the stock markets and currencies and show us where we are going light on the asset allocation."

The fund chose to issue an advance tender notice before putting out the actual tender specifications in October to facilitate its market evaluation.

"I don't think there is one supplier who produces such a system off the shelf," Hayton said. "Maybe we will get a partnership of suppliers.  What we need is systems that talk to each other, where data can be moved around and which inform us of thresholds."