UK – The City of Edinburgh Lothian’s 1.7 billion pound (2.6 billion euro) pension fund, has put out to tender a specialist emerging market equity mandate for 55 million pounds (83.7 million euros).

A spokesman at the fund said the tender was part of a review process.

Lloyd George Investment Management has been running the fund as part of a five-year contract which is due for renewal in June 2003.

The fund requires “optimisation of the investment manager’s internal stock selection process for all geographical areas and sectors, and will provide the fund with discretionary investment management for the portfolio”.

The deadline for applications is February 13.