UK - The pension fund of shoe-repairer Minit UK has appointed multi-manager Investment Solutions to manage its 10 million-pounds (15.06 million-euro) defined benefit pension scheme.

Investment Solutions, part of the Alexander Forbes group which includes Lane Clark & Peacock, took over the scheme in June.

The group scheme includes former employees of Supasnaps, Sketchleys and Mister Minit, which are now all part of Timpson.

“The number of active members in the pension scheme substantially reduced following the acquisition of Minit UK by Timpson, requiring a major review of investment strategy,” said Investment Solutions.

Investment Solutions director Justin Taurog said: “Our multi-manager model is becoming increasingly attractive for pension schemes trustees looking to manage the investment lifecycle of closed or significantly mature final salary scheme.”