UK - Pirelli Common Investment Fund, formerly the Pirelli UK Tyres pension fund, has awarded a £64m global equity mandate to Dresdner RCM Global Investors.
The mandate is made up of 60% UK equities and 40% global equities and will be managed by Neil Dwane, head of UK and European equities, and Mark Phelps, CIO global equities.
Merrill Lynch Investment Managers acted as transition manager while William M Mercer acted as adviser to the fund.
Frank Doyle, head of UK institutional sales at Dresdner RCM Global Investors, said: “The mandate will combine the strengths of both our UK and global equity teams.
“Both teams leverage off Dresdner RCM Global Investors’ fully integrated global research platform and our innovative Grassroots research tool.”
By Janet Du Chenne
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