Schroder loses J Walter Thompson

J Walter Thompson, the world's oldest and largest advertising agency, has dropped Schroder Investment Management as sole balanced manager of its £50m (€78.3m) pension fund.

The fund has replaced Schroder with a trio of asset managers. JWT has mandated Rothschild Asset Management to run a £20m bond portfolio, while Deutsche Asset Management and Royal London Asset Management take over property and UK equities respectively.

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