Legal & General wins £4b mandate from Brunel superfund

Legal & General Investment Managers has been awarded a £4 billion ($5.5 billion) mandate from Brunel Pension Partnership, making it the first asset manager to be chosen by the pooled local authority scheme.

Brunel is one of eight national pooled funds, and will manage investment of the pension assets for the funds of Avon, Buckinghamshire, Cornwall, Devon, Dorset, Environment Agency, Gloucestershire, Oxfordshire, Somerset, and Wiltshire.