UK – The £1.1bn (€1.6bn) Lincolnshire County Council Pension Fund has launched a tender process for a global active equity manager, putting incumbent manager Bank of Ireland Asset Management under the spotlight.

According to a scheme spokesperson, the mandate is worth approximately £120m.

The spokesperson told IPE that BIAM has been placed on the shortlist for reconsideration for the mandate.

“The mandate has been put back on the market following the end of its three-year period,” he said.

The fund hopes to make a manager selection in May. The mandate will also run for an initial three-year period and then subject to review.

According to the scheme, Bfinance – a consultancy specialising in fund manager selection for institutional investors – is handling the applications, and doing quantitative analysis of proposals.

However, the scheme will draw up a short list roughly four managers, and make the selection. No adviser will be involved in the process.

According to ‘International Pension Funds and their Advisers’, the Lincolnshire County Council Pension Fund has 9,780 pensioners and 9,800 deferred pensioners. Approximately 39% of the fund is invested in UK equities and 27% in overseas equities.

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