UK - Two pension funds of the manufacturing firm Smurfit Kappa have handed asset manager Invesco Perpetual a mandate to manage some of its UK equities.

Smurfit is largely based in Ireland, but has operations in the UK and the Netherlands among others, so has now asked Invesco to manage £20m (€27m) on behalf of its Smurfit UK pension fund and the UK Corrugated Retirement Plan.

Assets will be managed by Neil Woodford, manager of the UK equity fund at the firm.