UK - The £120m pension fund for automotive components distributor Dana Spicer Europe, subsidiary of Dana Holdings, has appointed Invesco Asset Management to a £25m European and Far Eastern mandate.

The brief will be split into two, with £16m going into continental European investment and £9m being invested in Asia. The benchmarks for the portfolios are MSCI Europe ex UK and MSCI AC Pacific Basin Free ex Japan indexes.

The US parent company Dana Holdings decided last October and December to appoint Invesco to its worldwide manager programme, which includes the group’s pension fund schemes in all the countries in which it operates, says Steve Harrison at Dana Spicer Europe.

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