UK- The £1.3bn East Riding of Yorkshire pension fund has drawn up a shortlist of three investment managers to run a £200m global active equity mandate. Schroders, the incumbent manager, is rumoured to have been retained to run the funds.
East Riding said it has yet to pick an investment manager although Schroders would not deny reports that it had been reappointed.
Rodney Barton, investment manager at East Riding, said a committee is meeting next month to make a decision which will then be confirmed by the council on October 14th.
The Yorkshire fund announced earlier this year that it was looking to appoint up to three managers to run the portfolio which contains European, Japanese and North American equities.
Last year the fund decided to drop Schroders from a £230m UK equity brief and to take the assets back in-house.
For the latest mandate, the fund, which runs over £1bn of its assets in house, has not used consultants for the selection process.
East Riding’s scheme has over 30,000 active members and around 15,000 pensioners.