UK - State Street Global Advisors has been awarded a £850m multi-asset passive mandate from Royal Liver, the life assurance company.
State Street Corporation was also awarded a £3bn transition role.
Both mandates are a result of Royal Liver outsourcing its fund management activities.
Commenting on the win, Ian Longley, treasury manager at Royal Liver, said that State Street had been selected because of its “considerable experience” in both passive- and transition management.
The move was assisted by Watson Wyatt.
This week's top stories include ITS' management buyout from Mercer, and The Pensions Regulator launching a probe into single-employer defined contribution schemes' default funds.
People retiring in the UK will on average outlive their pension savings by 10 years, according to research by the World Economic Forum (WEF).
Steps to improve auto-enrolment are uncontroversial and obvious, but the government is dawdling on introducing the necessary changes, argues Jack Jones.
Professional trustees will be expected to apply for accreditation as part of a framework intended to be launched on 1 July by the Professional Trustee Standards Working Group (PTSWG).