Associated British Ports Group Pension Scheme, London, replaced one balanced manager and retained two incumbents following the merger of its three pension plans, said Charles Orange, finance director.
The combined fund, with some 300 million ($492 million) in assets, hired Schroder Investment Management as a balanced manager, replacing Clerical Medical Investment Group. Retained were balanced managers Baring Asset Management and Jupiter Asset Management. The three managers each will manage one-third of plan assets.
The selection followed an asset/liability study by William M. Mercer. Few changes resulted.