Leicestershire County Council Pension Fund, Glenfield, England, hired Standard Life Investments to run £150 million ($265 million) in specialist U.K. equities, said Colin Pratt, investments manager. Funding came from terminating Societe Generale Asset Management, which handled £200 million in a similar style, because of performance and organizational issues, Mr. Pratt said. The remaining £50 million was distributed among existing fund managers Barclays Global Investors, Capital International, UBS Global and Morley Fund Management. Keith Percy, chairman of SGAM, declined to comment.
The fund has £1.3 billion in assets, according to the Pension Funds and Their Advisers.