Standard Life wins equity mandate
LONDON (Reuters) - Fund manager Standard Life Investments (SLI) said on Tuesday it had been appointed to run a 90 million pound UK equities mandate for the pension scheme of IT company Fujitsu Services.
The mandate comes during a period of slow growth in institutional business for fund managers as pension funds prove reluctant to make key investment decisions or move assets around amid extreme market volatility.
The assets will be managed in the SLI UK Equity Select Pooled Pension Fund run by head of UK equities David Cummings.
In its interim management statement at the end of September, SLI said it had a robust pipeline of new institutional business waiting to be funded.
(Reporting by James Molony; Editing by David Holmes)
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