Dresdner RCM wins £30m cash brief
UK - Medway Council has awarded a UK short-term cash mandate of £30m (e49m) to Dresdner RCM Global Investors. Dresdner’s local authority cash management team will manage the mandate and will evaluate performance relative to the weekly compounded local authority 7-day deposit rate.
According to Mark Archer, head of institutional business development, Dresdner RCM manages funds for 48 local authority clients with assets totalling £1bn. Archer says Dresdner’s cash management mandates have outperformed the local authority benchmark over one, three and five years.