Corporation of London Pension Fund dropped Schroder Investment Management as the sole balanced manager for its £350 million ($560 million) defined benefit plan following its restructuring into a pooled vehicle with the Corporation of Londons Bridge House Estates Charity fund and City Cash fund. Phillips & Drew was dropped from managing the corporations £190 million charity fund. The pooled fund now has assets of £900 million and is being managed using a core/satellite asset allocation. Gartmore Investment Management was given £420 million low-risk U.K. balanced mandate and a £210 million U.K. index portfolio. It previously ran the £360 million City Cash fund using a discretionary balanced account. Barings was given £126 to run in specialist U.K. equities for the pooled vehicle; Wellington will manage £81 million in a specialist North American mandate; and Fidelity will run a £63 million Far East portfolio that includes emerging markets. The funds were pooled to give more consistent returns, said Colin Duck, corporate treasurer for the corporation.