Surrey County (U.K.) Council Pension Fund, Kingston Upon Thames, England, hired Schroders to manage £35 million ($62.8 million) in specialist European equities, effective Oct. 1, said Julian Samways, Schroders group head of corporate communications. The new allocation is part of the £1.1 billion pension fund's move to a core-satellite specialist structure. Watson Wyatt assisted, said Michael Taylor, the council's executive director, performance and resources. The portfolio will be funded from a rebalancing of assets as a result of the new strategy. Deutsche Asset Management and Baring Asset Management have been terminated because of the move to the new structure, said Mr. Taylor.