Cardiff tenders two mandates worth E158m

UK – Cardiff County Council in Wales is tendering two mandates for its pension fund valued at 109 million pounds (158.6 million euros).

Following a review, the local authority has decided to test the waters by re-tendering two of its mandates. The first is a 34.3 million pound (49.9 million euro) active European ex-UK equity fund, and the second is a 74.7 million pound (108.7 million euro) active global bond mandate.

The current manager for the European ex-UK equity fund is Merrill Lynch Investment Managers, said Cardiff’s Jennifer Andrewes. The mandate currently accounts for 7.9% of fund.

J P Morgan Fleming Asset Management is presently managing the global bond mandate.

Applications must be received by August 27.

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