Border to Coast seeks blend of three UK equity managers

The £36 billion Border to Coast Pensions Partnership is looking for a manager for an active UK equity alpha portfolio, which it plans to launch in the final quarter of 2018.

The asset pool said that its UK equity alpha portfolio will initially be £1 billion to £1.25 billion in size. It said it will be a blend of three active UK equity managers, each with a distinctive style or role to play in contributing to an overall portfolio target of the FTSE All-Share index plus at least 2%, net of all external manager fees and expenses. The mandate has been advertised on the Pension Funds Online service, with interested asset managers asked to obtain any additional information and to register their interest at the myTenders website.

The first mandate from the asset pool follows on from the Border to Coast pool holding some asset manager days at the start of June, to give managers information on its plans, timetable, procurement process and expectations for managers who succeed in any future procurement process. Border to Coast said that around 130 asset managers took part in the interactive sessions, held over two days, and provided positive feedback.