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Investment Solutions picks up Selectus, HiTek

UK - Multi-manager Investment Solutions has recently announced mandate wins from ribbon manufacturer Selectus and power firm HiTek.

Investment Solutions has been awarded a global mandate, worth about eight million pounds, by Selectus. The appointment resulted in AMP UK Financial Ltd., a part of Henderson Global Investors until the end of 2003, losing the brief.

A member of the company said the change had been prompted by a “performance and administrative issue”. AMP was unavailable for comment.

The ribbon manufacturer has appointed Investment Solutions, which is a part of the Alexander Forbes Group, following a recommendation from the South Africa-based group.

Dieter Senn, chairman of the board of trustees, said: “Investment Solutions has provided us with a sophisticated and balanced portfolio, capable of meeting the increasingly stringent requirements placed on our pension fund trustees.”

Denise Potter, human resources manager at HiTek, said that Investment Solutions’ multi-manager approach had enabled the trustees to achieve a balance between equity and fixed interest investments.

“The advantage of the multi-manager approach is that it delegates the day-to-day manager selection and performance monitoring Investment Solutions, releasing the trustees to focus on the scheme members’ needs,” she also said.

Justin Taurog, director at Investment Solutions, said: “The win demonstrates that that our multi-manager approach for closed defined benefit pension schemes has come of age in the UK market.”

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