Investment management houses can expect tender requests in November from East Riding & Yorkshire Council for the possible management of pension fund and other moneys," according to John Wybrandt, one of the council's section heads.

He says: "It is too early to talk about how much investment beacuse we are reviewing a wide range of financial services, including pensions and investment management, and we shall be taking a decision nearer the time."

When the tenders go out later this year, they will be for contracts staring next February. The council is not yet talking to external consultants to assist in the search, though this might be done nearer the time."