The Isle of Man government has reappointed UK-based fund manager Singer & Friedlander to three mandates worth a total of £219m (€347.4m).

The mandates are for the £115m reserve fund, the £87m hospital estate development fund and the £18m notes issued fund. The latter forms part of the Manx currency account. John Cashen, the chief financial officer at the Isle of Man treasury, said that Singer & Friedlander had been chosen because of its good performance and its administration and communication services.