Border to Coast Pensions Partnership is looking to appoint a specialist China equity manager to oversee between £200 million and £300 million (US$249 million and $373 million) in assets.
The allocation will be transferred from Border to Coast’s emerging markets equity fund and will be benchmarked to the FTSE Total China Connect Index.
“With the increasing weight of China in the emerging markets benchmark, reflecting trends in the wider market, we felt it was appropriate to seek a specialist partner who will provide us with a local market presence,” said Daniel Booth, chief investment officer at the pension pool.
The formal tender process for up to two managers was launched on May 4, 2020, and appointments are likely to take place in the third quarter, Border to Coast said in a statement.
The appointments are being supported by consulting firm, Mercer. Established in 2018, Border to Coast is one of eight UK local government pools with total assets of £45 billion across 12 partner funds.
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