Ashmore Investment Management, the London-based emerging market debt specialist fund manager, has been awarded two mandates worth a combined £70m (€100m) from ICI's pension funds.

The main ICI Pension Fund has hired Ashmore to manage a £60m emerging market debt brief and the ICI Speciality Chemicals Pension Fund has invested £10m. The mandate is being managed within Ashmore's $1.3bn flagship fund, the Emerging Markets Liquid Investment Portfolio.