The UK’s £5.1bn (€6.5bn) Hampshire Pension Fund is looking for investment managers to take on mandates to invest £1.2bn of its assets in global equities, using an active approach, according to a tender notice.

The notice said Hampshire County Council, on behalf of the fund, anticipated awarding mandates to between two and five managers for its total global equities portfolio of £1.2bn.

Managers applying have until 2pm on Friday 22 April to submit pre-qualification questionnaires, according to the notice.

The council said it envisaged inviting 5-10 firms to tender.

No one at the pension fund was immediately available for further comment.

According to its 2014-15 annual report, Hampshire Pension Fund, part of the UK’s Local Government Pension Scheme (LGPS), allocated 37.5% of its total assets to global equities at the end of the reporting year, including a 10.7% allocation to passive global equities.

The three managers or funds used for investment within its “high-performance global equities” category are Aberdeen Asset Management, Newton Investment Management and Aberdeen Frontier Markets Equity.

These three managed actual allocations of 13.5%, 12.9% and 0.2%, respectively, at year-end, according to the report.

In absolute terms, Aberdeen runs £687m of Hampshire Pension Fund active global equity assets, Newton £659m and the Aberdeen Frontier Markets Fund £12m.

The pension fund’s total investments stood at £5.1bn at the end of the 2014-15 financial year.