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.
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