Pension Corp., London, hired Schroders to manage £100 million ($165 million) in active global corporate bonds, according to Paul Forshaw, Schroders' head of insurance asset management.
The move was Pension Corp.'s first investment in active global corporate bonds.
Pension Corp. provides risk management services to defined benefit funds, including pension buyout solutions, and has about £2 billion in assets under management. Typically, about 70% of Pension Corp's investment portfolio is held in cash, government bonds and other liquid instruments, according to the company's year-end financial statement.
Jeremy Apfel, spokesman for Pension Corp., could not be reached for further information.