Hertfordshire issues global equities tender
UK - The £2bn (€3bn) Hertfordshire County Council pension fund is seeking to change its equity weighting by issuing a new £200m global mandate tender.
Following a strategic review the fund - advised by Mercer - wants to reverse its equity exposure from 40% overseas and 60% UK to 60% overseas and 40% UK.
"This additional global equity fund manager will enable this aim to be achieved," said Nicola Webb, finance manager at Hertfordshire council.
"The council's investment committee has been reviewing its investment strategy in response to the globalisation of the equity markets," she added.
The mandate will be financed from the fund's current UK equity holdings.