UK – Buckinghamshire County Council pension fund is tendering a bond and property mandate to the value of 110 million pounds (159 million euros).

The 561 million pound scheme is presently split between four managers. Fidelity Investments and Deutsche Asset Management run two active balanced mandates. Legal and General Investment Managers run a balanced passive mandate, and Capital International run a specialist global equity mandate.

The two new specialist mandates will be investing in bonds and property. The bond mandate has a value of 85 million pounds (122 million euros) and will invest in UK and overseas government bonds and corporate bonds. The property mandate is for 25 million pounds.

Buckinghamshire decided to re-allocate assets following an asset liability study and altering its bond/equity split. Phil Triggs, principal treasury accountant at the fund said no decision had been made as to where the shift of money would be from.

The closing date for expressions of interest is August 8.