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Fund Manager captures Prudential pension mandate

Deutsche Asset Management, which manages £362 billion in assets worldwide, has captured half Prudential’s UK pension fund equity mandates.

Earlier this year the fund manager paid an undisclosed sum for the right to bid for the mandates, after Prudential decided to pull out of the segregated sector, which it believes is no longer profitable.

Having closed for business in order to clinch the deal, DAM will reopen for new business on August 1.

The deal increases the fund manager&#39s UK assets under management to £73.5bn, strengthening its position as one of the biggest fund managers in the UK.

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