European pension schemes placed $40.9bn (E33.6bn) of assets with investment managers in 2003, according to Mercer Investment Consulting data.
“In the UK, 222 searches were conducted for plan sponsors, with total assets placed valued at $20.7bn and an average placement of $93.2m,” Mercer says. The data refers to its own clients.
“In the rest of Europe, 68 searches were conducted, with total assets valued at $20.2bn and an average placement of $297m.”
It added that global equity mandates were among the most frequently sought in the UK and the rest of Europe.
“Mercer’s global search activity reached an all-time high in terms of total assets placed, $,” the firm adds. “Some 1,147 searches were conducted, with the average placement at $90.1m.”