Strathclyde Pension Fund, Glasgow, Scotland, named six active unconstrained global equity managers to a preapproved list to run assets in the future, according to minutes from the Feb. 28 pension fund committee meeting.
The £11.3 billion ($17.7 billion) pension fund selected Edinburgh Partners, Lazard Asset Management, M&G Investment Management, Oldfield Partners, Veritas Asset Management and Walter Scott & Partners, according to committee documents.
Lazard, Veritas and Oldfield Partners are likely to receive initial funding, estimated to be between £250 million and £500 million.
Richard Keery, the fund's investment manager, could not be reached for further information about how the mandates will be funded or the total size of the pension fund's active global equity portfolio.
Hymans Robertson advised; an initial tender was issued in June.