The £830m (€1.30bn) pension fund of UK local authority Worcestershire County Council is looking for an investment adviser to provide strategic advice on the investment of its portfolios.

It is hoping to attract a range of applicants for the part-time job, and not necessarily solely from the well known investment advisory firms. Management of the fund is split between external balanced managers, Schroders and Gartmore, on a segregated basis. Although the council is seeking new investment advice, it is not planning any changes to the investment managers or strategy.