UK – London-based investment management firm Chiswell Associates has won two new pension fund mandates, worth £35m (€54.5m), from the staff pension scheme of building society Leeds and Holbeck and the Presbyterian Church of Wales pension scheme.

Both mandates are multi-asset balanced portfolios with client-specific benchmarks.

The Leeds and Holbeck mandate, for which Chiswell replaces Shroders, is worth £15m while the Presbyterian Church of Wales scheme awarded Chiswell its £10m mandate following a beauty parade.

Chiswell Associates specialises in the management of assets of charities, but also manages investments for pension funds and private investors. The firm currently has some £1.7bn under management.