Merseyside Pension Fund is looking for new passive equity and bond managers to expand its investing policy, Global Pensions reports. The £4 billion fund is seeking one or more managers for its £576 million U.K. Index Linked Gilt fund, its £384 million U.K. equity fund and its £384 million North American equity fund.

The selected managers will manage the funds on a passive basis, which Merseyside will tie into the strategic allocation of its risk budget. Consultant Aon Hewitt is helping the fund with the manager search.

Click here for the story from Global Pensions.