Institutional Investors

Strathclyde pension fund seeks manager to run $800m in unconstrained global equities

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One of the UK’s largest local authority pension funds, Strathclyde in Glasgow, has issued a tender for a manager to run between $400 million and $800 million in unconstrained global equities.

Strathclyde pension fund runs the retirement assets of Glasgow City Council, which currently stand at around $17.9 billion.

The investment objective will be substantial outperformance of the FTSE All World Index or MSCI All Countries Index over rolling five-year periods, with a minimum target of 3%. While the pension fund has no formal hedge fund or absolute return allocation it is open to considering varying approaches, and