UK - The £640m (€935m) London Borough of Tower Hamlets Pension Fund has tendered an initial £160m in UK and global equities.

The assets account for around 25% of the fund's size. It is seeking managers for a £90m UK equity brief, approximately 14% of the fund. And there's a £70m global equity mandate, some 11% of the fund.

The Council in the east of London said it "reserves the right to alter the value of funds awarded under each mandate and to amend the asset classes under management during the selection process".

The fund is being assisted by Hymans Robertson.

It will invite between five and 15 operators to tender or participate, with the award going to "the most economically advantageous tender" in terms of the a seven-stage criteria list.

The time limit for receipt of tenders is August 4.

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