The Welsh local authority Rhondda Cynon Taff County Borough Council is inviting enquiries from external fund managers with a view possibly to replacing its existing investment managers for its UK-Porth superannuation fund.

An advisory investment panel headed up by director of finance Steve Parry is meeting this month to consider a review process, with follow-up meetings later this year. Apart from a 12% specialist manadate with Foreign & Colonial investing in a Japan and the Far East fund, the £600m scheme is split into two equal balanced mandates with M&G and Morgan Grenfell.

The council's internal investment manager, Evone Keitch says: We may not continue with two separate external managers in future and we may be looking for a specialist fund. We just do not know. We may decide to return to having a single manager, as we had previously, until three years ago." The current contracts are three-year rolling contracts, she says. "It is all under review".

The search and selection will not be put out to consultants: "We'll do our own search in-house."

The specialist contract comes up for renewal in October, while the mandates run until March next year. She says she is interested to receive preliminary enquiries in case the decision is to go out to tender (+ 44 1443 680 563)."