Nikko Asset Management has awarded a global equities mandate for $260 million.
UK-based Royal London Asset Management, together with Ironbark Asset Management, won the mandate from the Australia and New Zealand arm of Nikko. Sydney-based Ironbark, which manages about $5.7 billion, is the distributor.
Royal London head of global equities Peter Rutter said he and his team in London will apply an economic return and corporate lifecycle framework in creating a differentiated portfolio.
Nikko AM senior portfolio manager Charl Marais said: "Engaging a differentiated global equity approach brings confidence to our multi-manager global equity strategy. We're confident that Peter and his team will contribute positively to the ongoing success of our 10-year track record in manager selection."
Ironbark head of distribution Alex Donald added: "We're delighted to see that an award winning global company like Nikko AM entrust Royal London. We take great pride in providing best-in-class solutions to our clients and believe that Royal London will be a great fit in their institutional solution."
Nikko recently shut down two Australian equity funds - the Nikko AM Australian Share Value Fund and Nikko AM Australian Share Fund were terminated in September.
Prior to closing the funds, Nikko AM won a separate Australian equities mandate worth NZ$850 million ($766m) from ANZ New Zealand Investments.
This story was updated at 2.55pm.