UK – Cornwall County Council has tendered up to £400m (€581m) in currency overlay for its pension scheme.

“The mandate(s) will be for specialist active currency overlay management for the Cornwall Pension Fund,” the tender states. “The mandate(s) will be for a notional portfolio between £200-400m.”

The tender is being organized by consulting firm Hymans Robertson in Glasgow on behalf of the Truro-based council.

The council will shortlist between five and 12 managers.

There are 10 award criteria, including the “willingness to attend meetings in Truro” – which is a town in the far south west of England.

Hymans is scheme actuary at the £617m scheme. The deadline for receipt of tenders or requests to participate is April 18.

Hymans “will be assisting and advising Cornwall Pension Fund on all aspects of this tendering exercise and the resulting management services”.