Legal & General Investment Management win significant Euro Credit mandate from Switzerland.
07 March 2011
Legal & General Investment Management (LGIM) have been awarded a 70 million Euro mandate by Kanton St Gallen, a Swiss Local Authority.
The money was invested in the LGIM Euro Credit Corporate Bond Fund, which was launched in October 2010.
This Fund has already attracted mandates from clients based in Germany, Holland and Denmark and this latest mandate has taken investment in this fund to over a quarter of a billion Euros.
Fredrik Werneman, Head of LGIM Northern European Business, said "We are delighted that Kanton St Gallen has entrusted us with this high profile mandate. This is LGIM's first win from Switzerland and therefore forms a key milestone in our international expansion strategy."
LGIM has a long track record of active management in fixed income markets with over €100bn assets under management invested in active fixed income strategies (as at 30 September 2010).
"One of the main reasons that we selected LGIM for this mandate was due to their solid risk management process and excellent and stable performance numbers." Markus Näf, CIO, Kanton St Gallen.
Fredrik Werneman said, “Developing products that enable investors outside of the UK to invest with LGIM is a key part of LGIM’s business strategy and this mandate win is further evidence of our successes in Europe.”
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About Legal & General
Legal & General Investment Management Limited.
One Coleman Street
London EC2R 5AA.
Registered in England 2091894.
t: +44(0) 20 3124 2096