UK - Bank of Ireland Asset Management, the UK arm of Bank of Ireland Asset Management, said that assets under management for local authority and government pension funds have risen to more than £1bn.
The asset managers said that the latest figure was due to additional funding of £92m from the Lothian Pension Fund.
The additional funding was split between two existing mandates, with £71m going into global equities and £21 million into Europe ex UK equities.
Three new local authority and government pension fund mandates have also been won over the last 12 months totaling £322m. Mandates were awarded by Northern Ireland Local Government Officers’ Superannuation Committee, Lincolnshire County Council Pension Fund and the Public Employees Contributory Retirement Schemes of the States of Jersey.
Carl McAndrew, head of business development said: “ Local authority pension funds are a core target market for BIAM in the UK and we are very pleased that The City of Edinburgh Lothian Pension Fund has chosen to increase their mandate with us.”
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