The Strathclyde Pension Fund is aiming to hire at least one manager to run around £500 million in active unconstrained global equity, Pension & Investments reports. The funding for the new mandate will come by reducing the portfolio size of one or more of the system’s current active unconstrained global managers.
Proposals are due July 25, while the decision is likely to be made in the fourth quarter of this year. At the end of March, Lazard Asset Management managed £536 million for the fund, AllianceBernstein £345 million, Invesco £322 million and Edinburgh Partners £250 million.
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