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July 18, 1996 01:00 AM

Equitas Holdings Ltd., the reinsurance company set up to pay out...

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    Equitas Holdings Ltd., the reinsurance company set up to pay out pre-1993 liabilities of Lloyd's of London syndicates, today announced it has appointed nine money managers to run a total of at least 7 billion ($10.85 billion) in fixed-income assets.

    Each manager will invest between 500 million and 1 billion. Assets will be matched to the reinsurer's liability structure.

    Equitas officials also are considering investing in equities in the future, but not at the reinsurer's outset. Sources said Equitas has been interviewing U.S. equity managers.

    Picked to run the U.S. fixed-income portfolios: BlackRock Financial Management; Scudder, Stevens & Clark; Wellington Management; and Zurich Investment Management.

    Selected to manage U.K. fixed-income investments: BZW Investment Management; Mercury Asset Management; PDFM; and Prudential Portfolio Managers. RT Capital Management will manage Equitas' Canadian bond portfolio.

    In addition, Equitas named three custodians: Citibank for U.S. investments; Royal Trust for Canadian; and Bankers Trust International for Britain and the rest of the world.

    Equitas also named Colin Maltby, former chief executive of Kleinwort Benson Investment Management until its acquisition by Dresdner Bank, as CIO. He will oversee the external managers.

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