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LOTHIAN LOOKING FOR MANAGERS

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The Lothian Pension Fund, run by City of Edinburgh Council, is seeking specialist managers to handle four briefs wo...
The Lothian Pension Fund, run by City of Edinburgh Council, is seeking specialist managers to handle four briefs worth£850 million.

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.

The contracts will run for four years from 1 April 2000.

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.

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