Institutional Investors

UK authorities Norfolk and Dorset in alts tender


Although it has been a relatively quiet time among UK local authorities, a few have recently issued tenders for alternatives.

Norfolk County Council, based in Norwich in the UK, is looking to establish a framework agreement for one or more specialist managers to implement a dynamic currency hedging programme covering the fund’s overseas equity assets. The aim is to reduce the volatility of investment returns in sterling and minimise cash outflows associated with the hedge while capturing the gains from favourable exchange rate movements. The fund will consider both non-discretionary quantitative and discretionary approaches to the dynamic currency