The €12.5bn ($10.7bn) Netherlands-based Metalindustry pension fund has appointed State Street Global Advisors (SSgA), Merrill Lynch Investment Managers and Vanguard Group for enhanced indexed mandates totalling €2.4bn.

Out of the three fund managers, SSgA won the largest mandate, at €1.4bn, of which the largest is a North American portfolio of €1.2bn and the smaller a global mandate. Merrill Lynch will manage a €400m North American equity portfolio while Vanguard won two mandates totalling €600m, one US government bond portfolio and one Eurozone bond portfolio.

Dutch metal industry fund appoints three index managers

Pirkko Juntunen

State Street

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