Portfolio management services

Tender description

Procurement for investment management services for a segregated multi-manager mandate. In mid-2019, Border to Coast intends to launch its second externally-managed sub-fund within its Authorised Contractual Scheme focusing on global equities with overall expected assets of 4 000 000 000 — 5 000 000 000 GBP. The sub-fund will comprise of a selection of 4-5 direct global equity mandates, and one multi-manager with anticipated mandate sizes of 500 000 000 — 1 500 000 000 each. Building on the launch of border to coast’s first sub funds in July 2018, we now have c. 7 000 000 000 GBP of assets under management and have recently launched our first externally managed Sub-Fund – UK Listed Equity Alpha. Our next planned sub-fund is an externally managed global equity sub-fund and we have been working with our underlying local authority partner funds to ensure the structure, risk and return objectives best meet their needs. We are targeting a launch in mid-2019, with associated RFPs for the global equity mandates and multi-manager mandate issued in early 2019. This prior information notice relates specifically to investment management services for the multi-manager mandate within the sub-fund. The key objective of the multi-manager mandate will be to provide exposure to specialist investment strategies that may not otherwise be captured in a predominantly large cap, global equity portfolio. For example, giving exposure to small caps or regional specialists. The multi-manager will be responsible for its manager selection, portfolio construction and implementation of the mandate. In addition, border to coast envisages that the multi-manager may provide additional services across the entire global equity portfolio such as risk advice, access to manager research or centralised dealing. Border to Coast is holding a conference call on 28.1.2019 for those interested in more information on the multi-manager mandate. We will be covering: — a brief recap on the proposed structure of the border to coast global equity alpha fund, — details on our approach to selection and working with external manager partners, — Q&A. Please note that the call will be focused entirely on the multi-manager mandates and thus we would only encourage those interested in applying for this part of the mandate to attend. If you wish to reserve a place on the call, please contact border to coast on procurement@bordertocoast.org.uk to register your interest. A recording of the conference call will subsequently be available for any organisation that is unable to attend the call, via email from procurement@bordertocoast.org.uk