Fidelity Pensions Management has been appointed by UK white goods manuafcturer Electrolux, to run a £40m (€62.61m) global equity portfolio for its £270m pension fund.

This month Fidelity was picked out of six fund managers shortlisted in a beauty parade, advised by Bacon & Woodrow. The fund's existing managers UBS-owned Phillips & Drew and Legal & General lost some money in the change.