Taylor Wimpey hires equity manager

Taylor Wimpey PLC Staff Pension Scheme, High Wycombe, England, hired Standard Life Investments to manage a £120 million ($242 million) active U.K. equity portfolio, according to Judith Hopewell, pensions manager. The fund, which has £667 million in total assets, was advised by Mercer. The portfolio was managed by Schroder Investment Management, which was terminated because of performance. Schroder spokesman Nik Ekholm could not be reached for comment at press time.