SCOTLAND - The £6bn Glasgow-based Strathclyde fund is tendering for investment advisory and consultancy services.
The fund, for which Glasgow City Council is the administering authority, is one of the largest local authority pension funds in the UK.
Hymans Robertson currently holds the mandate.
The fund’s value at June 30, 2004 was £6.152bn.
Eleven investment managers, each with differing investment briefs, are currently employed to manage the assets of the fund.
The fund invests primarily in UK and overseas equities with the balance invested in UK and overseas bonds, index-linked stocks and property. Property and private equity investments make up about 10% of the fund.
No one from the fund was available for comment before deadline.
Deadline for tender is October 18 and the mandate winner will take up the position in March next year.
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