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Leicestershire County Council Pension Fund has discontinued its search for a global active equity manager. "It's out of time; we've had other priorities, appointed other managers. Things have moved on," said Colin Pratt, investment manager in Leicester, U.K. Delaware Investments was recently appointed to a GBP40 million emerging markets equity mandate, whilst Aegon Asset Management was selected for a tactical asset allocation (iiSEARCHES, 04/11). He added that the global equity search was always a lower priority for the fund, as it was just a case of transferring some passive assets into active management.