NETHERLANDS - Achmea Beleggingsfondsen Beheer has awarded a €230m fixed income mandate to Standish Mellon Asset Management, a subsidiary of BNY Mellon Asset Management.

The appointment sees Achmea expand its number of investment managers from one to three, with Standish the only one located outside the Netherlands.

The company will manage European fixed income for the Dutch insurer, with David Leduc, managing director of global fixed income, overseeing all investments for Standish.

Desmond Mac Intyre, chief executive of Standish, said he was delighted by the appointment and praised that companies were increasingly looking to diversify beyond domestic portfolios to guarantee returns.

“Fast-growing economies are likely to offer opportunities to investors in both sovereign and corporate debt securities,” he added.