Lothian Pension Fund, Edinburgh, issued an RFI for at least one manager to run an active Asia-Pacific portfolio initially valued between £250 million ($403 million) and £350 million.
Baillie Gifford currently manages the strategy, and its contract ends in July, according to a news release issued by the £3.2 billion fund. The firm can rebid. “It is fund policy always to tender at the end of a contract,” according to the news release.
The mandate also requires environmental, social and governance factors to be integrated into the investment strategy. “Our preference is for positive equity selection using financial and sustainable criteria rather than negative screening,” according to information provided by the fund.
Proposals are due March 14, according to the release. Manager appointments are scheduled by July. A fund official declined further comment.