As Zurich Scudder works its way towards winning UK and multi-asset defined benefit business, it has announced a new defined contribution service.

The firm is introducing three new Pathway pooled funds, with varying exposure to equities and bonds, benchmarked on global indices rather than the Caps pension fund average. This will tend to lead to higher US equity weightings. Malcolm Kemp, Zurich Scudder's risk expert, will take strategic allocation decisions, after discussion with investment managers.