Frank Russell has scooped the £20m pension fund mandate from Lancaster Group, the UK-based car dealers.

Russell, which runs multi-manager funds, will invest the Lancaster Retirement Benefits Scheme in its UK balanced fund. This invests in Russell's regional equity and fixed interest multi-style, multi-manager funds. The asset allocation hugs the CAPS UK pension fund average asset distribution.

Nicholas Lockley

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Lancaster awards £20m to Frank Russell

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