Morgan Crucible PLC Pension Scheme, Windsor, England, hired manager of managers SEI Investments to run £35 million ($64.4 million) in global equities for the £200 million plan. Funding came from reducing the portfolios of the plan's existing managers, UBS Global Asset Management and Schroder Investment Management, said Geoff Weir, group benefits and compensation manager. He would not provide further details. Hymans Robertson advised.
Separately, Tennants Consolidated Ltd. Pension Fund, London, hired SEI to handle £22 million in global equities as a manager of managers. The £62 million scheme terminated the portfolio's previous manager, Deutsche Asset Management; Ray Johnson, pension fund secretary, would not say why DeAM was dropped but said the firm still runs assets for Tennants' defined contribution plan. He declined to give the asset size of that plan but said it had a few million pounds in assets. The pension plan's remaining £40 million in asses is run by Barclays Global Investors. Further information was not available.
