Granada Pension Scheme, London, hired Scottish Widows Investment...

Granada Pension Scheme, London, hired Scottish Widows Investment Management to run £127 million ($204 million) in European (ex-U.K.) equities, said Jim Teape, group pensions manager for the £1.7 billion scheme. "They were the best for that role,’’ he said. Funding will come from terminating one world (ex-U.K.) portfolio and reducing another, he said. Marathon Investments, with £64 million, wasn’t retained because of a change in the fund’s strategy and performance, he said. Marathon officials could not be reached by press time. Schroders’ £125 million portfolio will be reduced, but the firm will gain other assets after the change. It will now run a Japan and Pacific Basin portfolio, with £152.5 million, Mr. Teape said. Mercer assisted.