SCOTLAND - The near-£2bn Lothian Pension Fund is looking for a manager to handle a new global equities brief.
The Edinburgh-based local authority fund is tendering an estimated £80m portfolio. The deadline for applications is May 17, 2002 with the contract expected to run for five years.
The move stems from a structural review of the fund conducted by Hymans Robertson last year, and is not part of a current, wider overhaul of portfolios, said investment manager Colin Hay.
Lothian currently invests its assets in UK equities 51%; overseas equities 28%; UK fixed-interest (incl. index-linked gilts) 9%; UK property 9%; cash and deposits 3%.
By Madhu Kalia
The government is in talks with the UK and Irish pensions regulators over how to protect members of cross-border schemes in the event of a no-deal Brexit.
The equalisation of guaranteed minimum pensions (GMPs) is at least two years away from being completed, and could take longer than four years for some schemes, a poll has found.
The Pensions Regulator will consider if schemes should be required to have professional trustees and assess the case for greater regulation of administrators and system providers, PP can reveal.
UK inflation fell from 2.3% to 2.1% in December, approaching its lowest rate for two years, according to the Office for National Statistics (ONS).