Lothian wants tenders for a small cap mandate, a socially responsible investment brief, a non-small cap lower risk portfolio and active high risk mandate. All the briefs are for the UK equity market.
In broad terms, Deutsche Asset Management and Phillips & Drew currently manage the latter two portfolios. Friends, Ivory & Sime are the SRI incumbents, while Edinburgh Fund Managers runs the small cap brief.
The four mandates will attract an estimated total annual fee of about£1m and amount to just over half the entire Lothian fund.
Lothian is also looking for a new global custodian. Bank of New York currently provides the fund's overseas custodial services, with the rest of the work undertaken in-house.