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Foreign Exchange

Royal Borough of Windsor closes tender for two-year currency overlay mandate

The Royal Borough of Windsor and Maidenhead on Tuesday closed its tender for a currency overlay completion manager for its £1.5 billion pension fund, according to Nick Greenwood, the manager of the fund.

The Royal County of Berkshire Pension Fund had issued a two-year tender to currency overlay managers to oversee the fund, which will pay an annual fee of £60,000 per year, according to documents posted on South East Business Portal, a website that publishes tenders for councils in southeast England. In an interview with EuromoneyFXNews, Greenwood declined to comment on how many bids the fund had received in the tender, but stated the successful bidder would be announced on January 29.

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