Kimberly-Clark Ltd., the Reigate, England-based subsidiary of Dallas-based Kimberly-Clark Corp., increased its equity assignment to Northern Trust Global Advisors for its L350 million (U.S.$566 million) pension fund.
Northern will have its assignment raised to about L78 million for its global equities mandate. It had been managing about half that amount, according to a Kimberly-Clark U.S. pension executive.
The change is the result of a restructuring stemming from the fund consolidation following the merger with Scott Paper. Several managers were dropped in the restructuring.