UK – The 450 million pound (678.5 million euro) Shropshire county council pension fund has put out to tender a 40 million pound (60 million euro) active US equity mandate.

"The mandate was originally managed on an active basis until last September, when the fund parted company with the US equity portfolio manager. In the meantime it has been run on an indexed basis, but we have decided to go back to an active management strategy," explains the fund’s pensions and treasure manager, Philip Guy.

Expressions of interest must be received by 19 March, with the appointment anticipated for 1 August at the latest.