UK - Baring Asset Management has been awarded a £23m diversified growth mandate by United Norwest Co-operatives Employees' Pension Fund.
The asset manager said the money would be invested in its best of breed multi asset pooled Baring Extended Risk Fund.
Richard Graham, head of UK institutional business at Barings, commented: “We now have a strong five year track record for segregated portfolios and over two years for the pooled fund."
He added: “Interest is growing in absolute return, multi asset portfolios.”
Barings said the Extended Risk Fund had returned 34.1% since its launch in November 2004.
Graham said: “This combination of equity like returns with less than equity risk meets many schemes’ requirements.”
A spokesman at United Norwest Co-op was unavailable for comment.
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