IRELAND – Bank of Ireland Asset Management UK has announced it has won equity mandates in excess of 650 million pounds (922 billion euros) so far this year.

The UK arm of Bank of Ireland Asset Management has won eight new global equity, global equity ex-UK and European equity ex-UK mandates over the first half of 2003. These were awarded by clients including The Law Society, British Sugar, the Plumbing Industry Scheme and St James’ Place.

In May, BIAM UK was appointed to run a 210 million-pound (300 million-euro) global equity mandate for the Northern Ireland local government officers’ superannuation committee. Lincolnshire County Council also appointed BIAM UK to a new and larger global equity brief.

In addition to these new clients, BIAM UK has also taken on 60 million pounds (85.1 million euros) of additional funding from existing clients over the last two quarters.

BIAM’s global equity fund has outperformed the FTSE World Index by 7.5% per annum, and the BIAM global equity ex-UK fund has outperformed the FTSE World ex-UK index by 8.4% per annum over the three years to end June 2003.

BIAM manages almost 34.1 billion pounds (48.3 billion euros) globally, of which BIAM UK manages 2.7 billion pounds (3.8 billion euros) on behalf of UK investors.