Achmea awards €230m fixed income mandate to BNY Mellon subsidiary

Management had previously been contracted to one investment manager.

Dutch life and pension fund Achmea Beleggingsfondsen Beheer has awarded a €230m European fixed income mandate to Standish Mellon Asset Management, a subsidiary of BNY Mellon Asset Management.

Achmea distributes a fixed income unit trust to clients in the Netherlands as part of its product offering. Until recently, the management of this unit trust had been contracted to one investment manager.

Achmea has also decided to appoint two additional managers, resulting in a portion of the unit trust being managed by three different investment managers.

BNY Mellon said that the mandate will be managed by Standish's dedicated Euro fixed income team lead by David Leduc, managing director of Global Fixed Income.