UK – Surrey County Council’s 950 million-pound (1.35 billion-euro) pension fund is reviewing the services and management of the scheme, and is considering a series of mandates.

In a tender, the local authority said that “a core and satellite approach is being considered, which will involve some or all of the following mandates”:

Index tracking
Active balanced
Active specialists ( including UK equities, global equities, bonds and property)
Either high conviction active specialists of high conviction active specialist manager of managers
Tactical asset allocation
Transition arrangements

A spokeswoman at the municipality said the review was part of a routine process. The current managers are Deutsche Asset Management, UBS Global Asset Management and Baring Asset Management.

Time limit for receipt of tenders is October 24.