UK - AXA Rosenberg says it has won a European ex-UK equities mandate worth €67m (€98.3m) from the Shropshire County Pension Fund.
The firm said it has been appointed to run the mandate by the £621.7m fund, following advice from Russell Investment Group.
According to the fund’s most recent annual report, Merrill Lynch Investment Managers ran the scheme’s only Europe ex-UK mandate, although it was not clear if they had lost the brief.
MLIM outperformed the benchmark in 2003/04, according to the report. MLIM spokespersons were not immediately available.
The Shropshire County Pension Fund is a defined benefit local government pension scheme which has a total membership of around 25,500.
“We are delighted to have been appointed by Shropshire County Pension Fund,” said Simon Vanstone, Europe chief executive of AXA Rosenberg. The firm also recently won mandates from the Lothian Pension Fund and Staffordshire County Council.
AXA Rosenberg is a specialist global equity investment management firm within the AXA Investment Managers group.