UK - The energy company Mitsui Babcock Ltd. has awarded Baring Asset Management an £86m (€126m) segregated multi-asset diversified growth mandate.

A spokeswoman for Mitsui confirmed the appointment but could not give any details on the company's pension scheme. Mitsui Babcock is advised by HSBC Actuaries and Consultants Ltd.

"This is an exciting mandate for a large scheme. It is good news that the Diversified growth approach has found favour with Mitsui Babcock and we look forward to working with them to deliver equity style returns with less than equity risk," Richard Graham, head of institutional business at Barings, commented. 

"The mandate objective of inflation plus 5% within set risk defined parameters is in line with other Targeted Solutions mandates managed by Barings," the asset management company said in a statement.