HSBC, Baillie Gifford, Standard Life, SG Asset Management and Invesco have been shortlisted for a £200m (€330m) global balanced mandate at the North Yorkshire County Council Pension Fund.

Invesco currently manages the portfolio for the £677m (€1.1bn) fund, which started reviewing earlier this year following a number of changes at the fund. Schroder manages roughly half the fund while Morley and Invesco split the remainder against more aggressive global balanced benchmarks.