UK – The dairy product supplier Express Dairies has awarded Frank Russell Company with an expected £50m (e82m) global equity mandate. The assets will be invested, with a scheme specific benchmark, through the manager’s multi-manager funds covering the UK, US, Europe ex-UK, Pacific, Japan and emerging markets.

“Russell’s appointment will both strengthen and broaden our current investment team. Its multi-manager approach provides an excellent fit for the Express Pension Scheme as we realign our investments to our new fixed bespoke benchmark,” says Stephen Nichols, pensions manager at Express Dairies.

Frank Russell Company manages over e12bn of assets from Europe, out of its total e70bn of assets under management.