UK - State Street says it has won a total of almost £650m (€950.8m) in investment servicing mandates from four separate UK pension fund clients.

They include the Hoover, Milk, Dumfries & Galloway and Massey Ferguson schemes.

The Boston-based bank said it would provide custody and compliance monitoring for £230m in assets for The Hoover (1987) Pension Scheme, with WM Performance Services continuing to provide performance measurement.

The Milk Pension Fund has awarded State Street a new custody mandate for its £280m. Hoover and the Milk scheme were advised by Aon Consulting, State Street said.

It will also act as custodian for a new £80m mandate from the Dumfries & Galloway Council Pension Fund following advice from Hymans Robertson.

The Massey Ferguson Works Pension Trust Ltd. has appointed State Street as custodian for a new £55m brief.

Dumfries and Massey previously had "tri-party relationships" with State Street through a custody relationship with Deutsche Asset Management, a release stated.

The four funds will be serviced from State Street's operations in London and Edinburgh.

"We are very happy to have added these four customers to our growing client list and look forward to establishing strong partnerships with each of them," said Alasdair Reid, head of State Street's asset owner group in the UK.

State Street also said it would now also provide custody, fund accounting, plan accounting and performance measurement to the Procter & Gamble Ireland Pension Plan, building on a relationship with the firm in the US and UK.

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