News: BIAM wins Tesco global equity mandate.(Tesco pension scheme)(Bank of Ireland Asset Management)(Brief Article)

Pensions Week, February, 2004

Bank of Ireland Asset Management (BIAM) has won a substantial global equity mandate from the Tesco pension scheme.

Tesco would not disclose the amount of the mandate.

In the last 12 months, BIAM (UK) has won nine large institutional mandates from clients such as British Sugar, the Plumbing Industry scheme and St James's Place Capital. Total new assets gained in the last year are in excess of GBP900m.

David Boal, managing director of BIAM (UK) said: "The appointment caps a year when an increasing number of pension funds chose to employ global equities as a key part of their asset strategy."