An £80m (€129.5m) global equities mandate is up for grabs at the £2bn City of Edinburgh Council Lothian pension scheme in Scotland.

The UK local authority fund, which is renowned for its use of specialist managers, conducted a structural review and decided it needed to invest in another specialist geographic region. It is already split into US, European and UK equities.

Lothian pension fund tenders £80m global equities mandate

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Pedro Guazo, who joins in August, will also oversee the $1.3tn asset manager’s responsible investment platform globally

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The deal with Vietnam seeks to stop Chinese-made goods from transiting through the Southeast Asian country to avoid higher duties.

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The precision-measurement company has withdrawn its recommendation for its previously agreed takeover offer from Advent International.

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The dollar lost momentum ahead of an expected decline in U.S. job creation, as investors expect the Fed to start cutting interest rates in coming months.

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The tech giant has been ramping up efforts to boost business growth in a bid to defend its place in China’s tech and commerce industries, as well as grow abroad.

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