UK – Threadneedle Investments, the London-based investment management arm of Zurich Financial Services, has been appointed to run a £205m (€333m) UK equity high alpha mandate by the £1.7bn (€2.8bn) Bath & North East Somerset District Council pension fund.

The appointment is Threadneedle’s first mandate win from a local authority and it has been set an investment objective to outperform the FTSE All share index by 2% per year, net of fees, over rolling three year periods.

Threadneedle says its inhouse research and risk management strategy were key to winning the mandate.