Lothian Pension Fund, Edinburgh, hired Goldman Sachs Asset Management to run £100 million ($183 million) in U.S. enhanced indexed equities and rehired Oppenheimer Capital to handle £60 million in U.S. core equities, said Catriona McKenna, spokeswoman for the £1.9 billion plan.
Funding for the Goldman Sachs portfolio came from active U.S. equity portfolios run by INVESCO and Putnam, whose five-year contracts had expired. Fund officials made the change after reviewing the plan's U.S. equity strategy, she said. INVESCO and Putnam were invited to rebid. Further details were not available.