The final-salary pension scheme sponsored by HBOS has hired new fund managers, Financial News reports. The Lloyds Banking Group unit made the appointments for first-time investments in reinsurance and infrastructure in order to diversify and decrease risk.
The £8 billion pension fund has named Credit Suisse to manage an investment in reinsurance and Equitix Investment Management to handle an infrastructure allocation. The allocations to both accounts are expected to be over £100 million.
Click here for the story from Financial News.