The Berkshire pension fund, which is administered by the Royal Borough of Windsor and Maidenhead, has become the latest local authority pension scheme in the UK to make the switch from domestic to global equities.

The scheme is tendering for a global equities brief of between £50m (€73m) and £80m. Jack Johnson, the pension fund manager at Berkshire, said that the range reflects the uncertainty caused by market movements, and will give the fund flexibility over the next few months as it begins to review applicants for the mandate.