Skanska UK, Rickmansworth, England, hired Standard Life Investments to manage an %A3;80 million ($143.5 million) active U.K. pooled bond portfolio for the company's %A3;210 million pension scheme, said Tanya Barnes, Skanska UK spokeswoman. It is a new investment, and funding came from cash and general rebalancing. No managers were terminated.
Malcolm Jones, investment director-fixed income at Standard Life Investments, said the portfolio will comprise inflation-linked, government and corporate bonds.
Plan consultant Lane Clark & Peacock assisted with the shortlist search.