UK - The Pensions Trust has appointed quants specialist Axa Rosenberg to manage a £345m (€510m) European equity mandate.

According to a joint statement issued today by the asset management firm and The Pensions Trust, Axa Rosenberg will manage a "Pan-European broad market" equities mandate.

Steven Nichols, chief executive of The Pensions Trust, said the executive board had selected Axa Rosenberg for several reasons, not least because of Axa's "rigourous risk management process that is essential to our business".

This latest mandate win follows news last week revealing Royal London Asset Management has also picked up a £200m fixed income mandate from The Pensions Trust.

The Pensions Trust provides over 4,100 employers and 125,000 members with a multi-employer occupational pension fund and manages assets in excess of £3.6bn to March 31 2007.

The actual breakdown of schemes managed by the Pensions Trust includes 30 standalone final salary schemes, five multi-employer final salary schemes, a money purchase plan, a career average revalued earnings (CARE) scheme and a flexible retirement plan.