Unison, one of the UK's largest trade unions, has appointed Morley Fund Management to handle its staff pension scheme's first foray into property while separately terminating the manager from an equity mandate worth approximately 66% of the scheme's assets.

"We used to have Morley for equities but we weren't impressed with them so we dropped them and appointed Standard Life," David Limb, chairman of the trustees of the approximately £250m (€345m) Unison Staff Pension Scheme, told mandate-tracking service Mandatewire: