Man Group wins BVK managed account mandate

8th Mar 2011 08:14

Hedge fund manager Man Group has secured a managed account mandate for an initial €1.2bn ($1.7bn; £1bn) from Germany's biggest public pension fund Bayerische Versorgungskammer (BVK).BVK will begin allocating funds over the course of 2011, adding to the $8.7bn (€6.2bn; £5.4bn) of managed account assets already held by the UK company."To be awarded a large mandate by a pension fund as progressive and sophisticated as BVK is a huge achievement for Man and testament to the strength of our managed account offering," Man boss Peter Clarke said. Man first alluded to a major European managed account mandate in January's trading update.