The City of Edinburgh Lothian’s £1.7bn pound (E2.6bn) pension fund, has put out to tender a specialist emerging market equity mandate for £55m (E83.7m).
A spokesman at the fund says 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.
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”.