Hedge Funds Institutional Investors

Tower Hamlets seeks bond manager


The London Borough of Tower Hamlets, a UK local authority, has released an RFP for a manager to run around $182 million in an absolute return bond strategy.

The move follows a decision by the $743 million fund's investment committee late last year to restructure its bond portfolio with the aim of raising its total returns over a long-term horizon.

The plan decided to cut some of its exposure to government bonds and increase allocations to global equities and corporate bonds.

The council may decide to split the mandate between different providers and will consider both active bond mandates and