The Hay Hall engineering group in Birmingham, UK has awarded Northern Trust Global Investments (NTGI) a £6m multi-manager mandate to manage its overseas equities investments.
Tony Earnshaw, NTGI’s managing director of multi-manager products (London) said the win was indicative of the swing in the marketplace, where it is becoming increasingly common for UK and European pension funds to switch away from a single manager fund into a multi-manager fund.
“As one of the leaders in this area of fund management, Northern Trust is well placed to benefit from this change,” he said.
Hay Hall is advised by KPMG pensions.
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