UK – Dresdner RCM Global Investors has been selected to run three separate cash mandates totalling £59m (€94m) on behalf of three UK local authorities.

The new mandates from the City of Sunderland, London Borough of Richmond upon Thames and the Devon and Cornwall Police Authority, are worth £30m, £15m and £14m respectively.

The mandate wins come on top of two other recent local authority cash mandates from Medway Council (£30m) and Hastings Borough Council (£14m), and bring the total of cash mandates Dresdner RCM has won this year to £123m.

Altogether, Dresdner RCM manages funds totalling some £965m for 48 local authorities throughout the UK.

Dresdner RCM Global Investors, part of Dresdner Bank’s asset management business, manages and advises on assets worth over £54.2bn.