UK - Goldman Sachs Asset Management says it has won a total of £533m (€785m) from three UK local authorities.

They include the London Borough of Barking and Dagenham, Powys County Council and Staffordshire County Council, it said.

Barking and Dagenham have awarded the firm a £100m global equity mandate while Powys has awarded a global tactical asset allocation brief as an overlay to its entire £220m fund. And Staffordshire has awarded GSAM £213m in UK equities.

The three mandates use all or part of the firm’s quantitative resources team.

"We are thrilled that Staffordshire County Council has awarded us a third portfolio,” said Sally Marshall, GSAM’s head of UK local authorities business development. “We look forward to building further on the good relationship we have established with the officers and members which started two years ago."

GSAM manages more than £4bn in UK local authority mandates.