UK - The £1.2bn (€1.8bn) Suffolk County Council Pension Fund is looking to award a £403m currency overlay mandate for its overseas currency exposure.

Following a review of investment strategy by Hymans Robertson, the fund wants to "make use of active currency management, which involves the use of a specialist currency management with the objective of producing a positive return for the fund from currency management", the council's pension fund committee stated in a meeting.

In October, the fund said it was looking for overseas and UK equities managers putting the incumbent managers Capital International (overseas equities) and Societe Generale Asset Management (UK equities) under review.

The mandate was tendered as a global equities mandate with a minimum of 10% and a maximum of 20% of the fund's value.

Deadline for participation in the tender is 15 January 2007.