PPP Healthcare Medical Trust, London, has split £320 million ($528 million) evenly among three managers. Britannia Asset Management and Fidelity Pensions Management were picked to run actively managed global balanced briefs, while Barclays Global Investors was picked to run a passively managed U.K. equities mandate for the newly created trust. The trusts board will meet next month to allocate an additional £100 million among the three managers. The trust was created from the sale of PPP Healthcare to Guardian Royal Exchange, for £520 million. An additional £100 million is held by Guardian Royal Exchange, in the form of guarantees on the deal.