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 council’s head of corporate finance. Rothschild Asset Management currently manages the money in a balanced portfolio, while Baillie Gifford manages the £400 million plan’s remaining assets, also in a balanced portfolio.
Consultant Hymans Robertson will review the fund’s 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 Robertson’s report is due by December, Mr. Williams said.
