German State Picks Six Managers For PF

Six asset managers have been chosen by the German state of Saxony-Anhalt for its pension fund for civil servants,IPEreports. The fund, which so far has collected €207 million, will start additional funding again from next year.Universal Investmenthas been selected as overall investment company and France-basedAmundias manager of government bonds.

Nord LB Capital Managementwas selected for the corporates mandate andEMCorefor convertibles. The equity mandate was divided betweenDB AdvisorsandBerenberg Bank. Additionally,BNP ParibasSecurity Serviceswas picked up as global custodian.

Click here for the story fromIPE.