The pension fund for Italy’s Banco di Napoli is tendering two €45m equity mandates, targeting managers of Asia-Pacific and US stocks.

The €693m fund said it was looking to award four contracts in total – two covering the defined benefit section of fund, and two covering its defined contribution scheme.

All four contracts will run for three years, according to Banco di Napoli, which added that managers would be allowed to invest only in listed equities in the two selected markets.

For the sake of liquidity management, however, the pension fund will allow temporary exposure to money market funds denominated in euros.

Interested managers have until 4 April to respond to the request for proposal published on the Banco di Napoli fund’s website.

In other news, the UK National Local Government Pension Scheme (LGPS) Framework has tendered a framework agreement covering advice for asset pooling, as well as actuarial advice.

The initiative, supported by seven funds including the administering authority behind Norfolk Pension Fund, is split into four distinct lots covering actuarial services, benefits consultancy, provision of governance consultancy and distinct pieces of pensions-related project work.

The last lot allows for the tendering of advice regarding the creation of asset pools, being launched by the LGPS in the wake of the UK government’s attempts to increase scale within the sector in England and Wales.

The lot would also allow funds across the UK to appoint specialists able to help them comply with the new regulatory requirements imposed by the Pensions Regulator.

The four-year mandate, which could run for up to seven years, could be worth up to £350m (€448m) in payments to third parties.

Interested parties have until 11 April to apply (the deadline was later extended to 15 April in connection with an amendment of the short description in the contract notice - a formal matter).

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