Barclays Global Investors has been awarded the largest fund mandate of 2005, gaining Skr39.1bn (€4.2bn) from Sweden's AP Fonden 1 state pension fund.

BGI now runs the fund's enhanced large-cap North American equities portfolio following a change to its four-year mandate. It previously ran Skr 12.6bn in European and North American stocks, but the fund has decided to run the European segment internally.