Institutional Investors

Gwynedd of Wales seeks active management for 20% of fund assets

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The Gwynedd Pension Fund, based in Caernarfon, Wales, is looking to establish a framework agreement for a number of unconstrained, active global equity managers. The objective will be to outperform a global equity index (provisionally the MSCI AC World Index).

While the mandate is long-only, the council will consider a wide range of investment styles and is not ruling out considering UCITS III funds.

The mandate is for up to 20% of the fund assets, or a total sum of $303 million, although this amount is likely to be divided among multiple man¬agers.

The pension fund, whose total