GERMANY - Gartmore Investment Management has been awarded a E125m European large-cap equities mandate from utilities giant E.ON Energie.
The portfolio will be managed by Stephen Jones, Gartmore’s head of European equities.
Last year Munich-based energy giant E.ON Energie also hired JPMorgan Investor Services as its global custodian. JPMorgan provides securities lending, mutual fund accounting and reporting duties for all investment categories.
The E.ON Energie mandate comes hot on the heels of other recent signings, including a e150m small-cap European equities mandate from AHV, the Swiss Social Security Fund, and a e100m currency overlay mandate win from a large pan-European pension fund.
Gartmore has seen its assets dwindle recently as part of the widespread shift towards to specialist strategies.
Frances Davies, head of global institutional at Gartmore, said: These mandate wins are testament to our stated objective to develop across a range of global institutional markets and is proof positive that Gartmore is firmly back in contention within the Institutional marketplace.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers