UK - GMO won six UK equity mandates totalling more than £160m in the first quarter.
The new business comes from across the range of its UK institutional clients – encompassing the corporate, public and multi-manager sectors.
New clients include Accenture, ChevronTexaco and an undisclosed UK local authority.
GMO said some of the wins were “as yet unfunded” DC schemes and were therefore expected to grow rapidly in size. It said UK equities were becoming increasingly good value for pension schemes.
Managing director Paul Bostock said: “We believe UK equities are now at ‘fair value’ compared with US equities which have still not yet reached that point.”
This follows GMO’s announcement of £120m of emerging market mandate wins at the end of March.
MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".
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Institutional investor confidence in Europe rose by 8.9 points in April with each region showing growing appetite for risk, according to State Street Global Exchange.
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