UK – The Matheson Group Pension Plan has awarded a 20 million-pound (28.5 million-euro) multi-manager mandate to Russell.

“The trustees of the Matheson Group Pension Plan have appointed Russell to manage a 20 million-pound mandate representing the whole of the Plan’s equity investments,” Russell said in a statement.

The assets will be invested in a range of Russell’s multi-manager equity funds. The trustees were advised by consulting form Towers Perrin.

Roger Whittaker, director of UK sales at Russell, said: “We are delighted that Matheson have chosen the Russell funds and we are very much looking forward to working with them.”

He said Russell has won more than 30 new client mandates so far this year.

Matheson director Martin Henderson said: “For some time we have been attracted to the concept of a multi-manager, largely for the greater efficiency it gives to the trustees in a rapidly changing investment environment, and we selected Russell for their professionalism and past record.”

Matheson & Co Ltd. is a subsidiary of Jardine Matheson Holdings - which has a stake of around 31.88% in consulting firm Jardine Lloyd Thompson.