State Street Global Advisors (SSgA) has won a $20m (€20m) mandate from the Clothworkers' Company of the UK. The money is to be run on an enhanced indexation basis, which is growing in popularity among investors who want higher returns than those offered by pure passive management. The mandate will be managed on behalf of the Clothworkers' Foundation, which administers charitable trusts and provides grants and sponsorship deals.

Fund managers' confidence in equities grows