Invensys PLC, London, will contribute £105 million ($182 million) to its £3.9 billion pension scheme by March 31, according to a news release. The contribution is part of a nine-year plan to close a pension deficit estimated at £315 million as of Sept. 30, 2005. Trustees plan to spread the cash inflow "evenly among the current range of asset managers in the proportions of the current allocations," general manager Nigel Casson said in an interview.
Invensys officials also plan to contribute £20 million contribution for each of the next two years, and £35 million injection per year following that until the plan is fully funded.
Mr. Casson declined to provide further details about the asset managers and the type of portfolios they run. About 30% of the fund's assets are in equity strategies and 70% in bonds.