Lothian Pension Fund, Edinburgh, rehired Portfolio Evaluation to provide independent performance measurement and risk analysis of investments, said a spokeswoman at the £5.4 billion ($6.9 billion) pension fund.
The firm was chosen based on a number of criteria, including cost and quality of service, the spokeswoman added.
“(Portfolio Evaluation) will measure the returns and risk of the fund’s portfolios and of the fund itself to provide management information for monitoring purposes.”
“It is regarded as good governance for a pension fund to have an independent provider of performance measurement services,” she added.
A search was launched In September 2016.
Portfolio Evaluation will provide similar services to the £1.8 billion Falkirk Council Pension Fund, Falkirk, as part of the same search, according to a notice on procurement website Tenders Electronic Daily.
A spokesman could not be reached for comment.