Schlumberger PLC U.K. Pension Scheme, London, has restructured its £296 million ($473 million) equity portfolio by adopting a multimanager approach, said Jim Keane, fund secretary. Baring Asset Management will manage £90 million in specialist UK equities. American Express Asset Management will manage non-domestic equities excluding the U.S. Schroder Investment Management, which had managed the entire equity portfolio, now will manage low-risk U.K. equities. The board of the £370 million plan decided to split up the equity portfolio to reduce the risk of being exposed to a single manager, said Mr. Keane. He would not say how much of the portfolio had been awarded to American Express and Schroder. Mr. Keane also noted that the U.S. equity portfolio is still under consideration.