UK - Schroder Pensions has added five new funds to its defined contribution (DC) multi-manager platform , three from Scottish fund manager Baillie Gifford and two from Morley.

The firm says it has extended its range of external funds in response to demand from the corporate DC pensions market for open-architecture structures that enable schemes to develop, mature and change over time.

The new funds are the Morley UK Equity SRI Fund; the Morley Balanced Managed Fund; the Baillie Gifford UK Equity Alpha Fund and the Baillie Gifford Overseas Equity Fund.

The fifth fund - to be called the Global Equity Alpha
Fund - is a high performance target fund of funds. This fund is created by combining the other two Baillie Gifford funds using Schroders' in-house fund of funds system.

Gary Smith, director of product development and marketing at Schroder Pensions, says: "It is important to offer DC scheme members real choice and flexibility, not just in terms of asset classes, but also in investment
style, risk grading and even investment managers. At Schroders, we are looking to exceed client expectation through a range of first class external managers offering "best of breed" management of complementary funds -
including increasingly popular options such as SRI funds."

These new external funds are in addition to Schroders' existing DC multi manager capability that includes funds from Capital International and JPMorgan Fleming.