Parliament seeks trustee advice

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UK - Trustees of the £280m (€414m) Parliamentary Contributory Pension Fund of the House of Commons are looking for investment advice.

Advice is sought on "all aspects of investment" including asset liability studies, assessment of manager performance against objectives, global custody and setting investment objects, according to the tender document.

"The existing contract with Mercer Investment Consulting, which was for five years, terminates on 31 October," a spokesman for the fund told IPE.

Last month, the fund has appointed Quellos Capital Management a £8m hedge fund mandate, giving the fund its first foray into this asset class.

Deadline for participation in the trustee advice tender is July 30.

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