Lothian scheme looking for consultants

UK - The two billion-pound (2.87 billion-euro) Lothian Pension Fund is looking for two consultants for asset liability studies and strategic advice.

The defined benefit scheme, run by the city of Edinburgh council, has stated today in a newspaper ad that two positions are available for an investment consultancies.

The fund’s new term of appointment is going to be early next year, said Colin Hay, the fund’s principal investment officer.

The request for tenders comes as a “normal review”, Hay said. The scheme currently employs two consultants, whom Hay declined to name.

The request for tender states that one consultancy is required to produce asset liability studies and provide strategic investment advice.

The second position should be filled by an independent consultant “with a knowledge of the fund management industry”. Knowledge and commitment to the Local Government Pension Scheme is ‘desirable’.

Candidates can apply for both the positions and the successful applicants will be required to attend at least four half-day meetings a year.

Applications are to be addressed to Hay by November 12. The fund’s investment managers are Baillie Gifford & Co, Bank of Ireland Asset Management, BlackRock International, Deutsche Asset Management, Henderson Global Investors and Lloyd George Management.

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