Aegon Asset Management has won a GBP300m pension scheme mandate from manufacturing company Molins.

The mandate will see Aegon Asset Management play a significant role for the Molins UK Pension Fund in enhancing the asset allocation and funding plan developed by the trustees and their advisers.

This will be done by implementation of its asset allocation service which will overlay the Molins Fund's long term strategy.

The Aegon Asset Allocation Service aims to provide a customised asset allocation overlay facility to help meet the strategic objectives of a particular pension scheme. It is run by Aegon Asset Management's multi asset group, which is managed by its European head of multi asset investing Scott Jamieson.

Martin Harris, Aegon Asset Management’s head of European distribution, says: “This is an excellent win for our multi asset group, and underlines the growing recognition we are receiving for this innovative service.”

Sally Soper, Molins' pension manager, says: “We look forward to working with the Aegon Asset Management team. We are confident that this bespoke and flexible service will help us to improve returns for our members and to provide an enhanced degree of protection in ever more volatile asset markets.”