UK – Nomura Asset Management UK has been appointed to manage a £55m (€91.3m) Pacific basin mandate by London Electricity group pension fund, part of the Electricity Supply Pension Scheme.

The mandate includes Japan and was concluded following a search in conjunction with consultancy firm, William M. Mercer.

The fund will be managed from Tokyo and Singapore and is part of the pension fund’s strategy to increase the use of specialist managers.

Malcolm Revell, pensions manager at London Electricity, comments: “The trustees were impressed with Nomura’s depth of resources and local knowledge and felt they were best placed to meet our requirements.”