Devonport Royal Dockyard Ltd. Pension Scheme, Plymouth, England, plans to undertake an asset-liability study this month, said Neil Skinner, pensions manager and secretary. The £680 million ($971 million) plans asset allocation is 30% fixed income, 70% equity.
Separately, the plan sold all its direct property holdings, raising £30 million; the money will be added to its existing equity holdings, Mr. Skinner said. CB Hillier Parker Investors was instructed to sell the properties last year after plan officials dropped manager Royal London Asset Management. The property investment was 5% of total assets.