Investment
Nikko Asset Management awards global equities mandate

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.

Read more: mandateNikko Asset ManagementAlex DonaldCharl MaraisinvestmentIronbark Asset ManagementPeter RutterRoyal London Asset Management
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