Frank Russell has won a £50m (€81.5m) global multi-manager equity mandate from the £350m Express Dairies pension scheme in the UK.

Express Dairies is transferring some money away from its passive manager Legal & General and active balanced manager Deutsche Asset Management (DeAM) to help fund the multi-manager Russell mandate. It is also using cash thrown up by recent scheme amalgamations.

Mike Foster

Express Dairies

Legal & General

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Frank Russell wins £50m mandate

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