Brunel Launches Search for Outside Managers to Run New Fund

British pension system needs talent for its fledgling high alpha fund, plus another one coming in late 2019.

One of the UK’s pension pools has officially opened its search for outside managers for its new fund.

Managers who had not pre-registered for the Brunel Pension Partnership’s ($39 billion) global high alpha fund in January can now apply. The firm wants to divide the $2.9

billion equities portfolio between four and six long-only managers with “diverse and complementary approaches.”  

A $2.6 billion sub-fund will also launch in the fourth quarter that will be “much more focused on risk control,” Brunel’s chief investment officer, Mark Mansley, told CIO in January. Brunel expects that fund to be run by four to five managers.

“We will generally be looking for a long-term approach, innovation, and originality in managers’ processes, and high-return expectations of 3% or more over benchmark,” Mansley said.

The alpha fund has already received 110 fund manager submissions from its pre-registrations.

Managers can send a brief summary of their qualifications, research, and “thought-pieces” on investing in global, high alpha equity strategies to by April 3, 11 a.m. GMT with “Brunel Global High Alpha” in the subject line. Consulting agencies Inalytics and Reddington are helping Brunel with its decisions.

Brunel handles the investment decisions for the pension assets of 10 local government retirement plans (Avon, Buckinghamshire, Cornwall, Devon, Dorset, Environment Agency, Gloucestershire, Oxfordshire, Somerset, and Wiltshire).

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