Scottish Widows Investment Partnership (SWIP) has been appointed by Cassa Italiana di Previdenza e Assistenza dei Geometri Liberi Professionisti (Cassa dei Geometri) to manage a EUR25m (£15m) active Japanese equity portfolio.
Cassa dei Geometri is Italy’s national association of land surveyors. SWIP will be one of eight managers managing the financial assets of this providential private body worth EUR750m (£452m).
This mandate marks SWIP’s first segregated win in the Italian pension fund market and comes ahead of a series of institutional equity fund launches planned for the latter half of this year. SWIP has also established relations with a number of prominent Italian asset managers and banks who will act locally on its behalf following the launch.
Commenting on the mandate win, Chris Walker, head of the institutional division at SWIP, said: “We will be working closely with our Italian partners, Institutional Advisers, to drive our Italian business forward. The track record of our Japanese equity team was a decisive factor in us winning this business and we look forward to working with the client in this exciting area of growth for us.”
By Janet Du Chenne
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