UK- The £1.9bn Lothian pension fund is looking for a manager to oversee a new £80m global equity mandate. The decision follows a structural review of the fund last year by consultant Hymans Robertson.
Declarations of interest are required by the middle of July. Principle investment officer Colin Hay says they will then ask for tenders from between twelve and fifteen managers. The mandate willl run from the beginning of October.
The mandate will be a combination of new money and other assets although Hay says they will wait to see the market conditions nearer the end of the year before they choose which assets to divest.
Hymans Robertson have not recommended any further changes to the fund’s structure.