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Norfolk PF Seeks Currency Overlay Managers

The £2.1 billion Norfolk County Council Pension Fund of Norwich, U.K., is looking to appoint managers for an active currency hedging overlay strategy covering a $1.3 billion overseas equities portfolio.

The £2.1 billion Norfolk County Council Pension Fund of Norwich, U.K., is looking to appoint managers for an active currency hedging overlay strategy covering a $1.3 billion overseas equities portfolio, Pensions & Investments reports. Consultant Hymans Robertson LLP is assisting in the search process.

At present, the passive currency strategy is managed by the fund’s global custodian Northern Trust, which can bid for the mandate. Interested candidates are required to submit their proposals by November 7. The managers are expected to be selected in early 2012.

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