Highland Council Pension Fund, Inverness, Scotland, issued a request for information for at least one manager to run £300 million ($466 million), said Brian Williams, the councils head of corporate finance. Rothschild Asset Management currently manages the money in a balanced portfolio, while Baillie Gifford manages the £400 million plans remaining assets, also in a balanced portfolio.
Consultant Hymans Robertson will review the funds investments, and the council has not decided whether to use a specialist or passive approach, Mr. Williams said.
"We have effectively accelerated the review that is being carried out by Hymans Robertson in light of the announcement by Rothschild that it is reviewing the future of its fund management business, he said.
Hymans Robertsons report is due by December, Mr. Williams said.