UK – Rothschild Asset Management (Rothschild) has beaten rival management groups, Hermes, Gerrard and Tilney, to win the mandate to run the £80m (€127.5m) investment portfolio of the Communication Workers Friendly Society (CWFS).

CWFS provides a range of services to its members, the majority of whom are members of the Union of Communication Workers, including savings plans and life assurance.

The portfolio is to be split between UK equities (55%), UK gilts (40%) and cash (5%). CWFS has set Rothschild a target to outperform its benchmark by 0.75% per year over a rolling three-year period.

Watson Wyatt, CWFS’s consultants, took an active part in the manager selection process and Rothschild worked closely with them in building its proposed investment strategy.

Says Edward Chapman, CWFS chief executive: “Rothschild were appointed to manage our funds because in addition to having expertise in the equity and bond markets they were also willing to take the time to find about our specific needs.”

Topics