UK - Multi-manager Investment Solutions' assets under management have topped £230m after winning mandates from three closed defined benefit schemes.
The fund manager, which is part of financial services giant Alexander Forbes, has won the mandates to run the closed DB schemes of environmental process-engineering company Purac, combustion technology provider Saacke and builders’ merchant RGB.
Investment Solutions, which targets closed DB schemes, has won 11 mandates, worth a combined total of £100m, since its UK launch in September.
The wins are in addition to the £130m in assets it gained when it acquired Schroder Pensions last year.
Investment Solutions director Justin Taurog said: “This is an important milestone to reach and it demonstrates our ability to service the investment needs of closed DB pension schemes in the UK.
“We have seen an increased interest in multi-manager solutions in the market and we believe we are on track to remain at the forefront of this continued growth in the future. Our investment range for mature and closed DB schemes is unique in the market and enables employers and trustees to focus on meeting the liabilities of the scheme as they fall due.”
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