UK – London based pan-European asset managers, Foreign & Colonial, has been appointed to run a £90m (€146.5m) bond portfolio for the pension fund of Associated Octel Company Ltd, the UK subsidiary of US petroleum additives and specialty chemicals producer.

The mandate will comprise UK gilts, index-linked gilts and corporate bonds to be split equally. It was awarded following an investment review and tender with consultancy firm, Watson Wyatt.

Foreign & Colonial is a full service asset manager with £70bn under managements, including £50bn in institutional assets.