IOOF has awarded Legg Mason a $100 million mandate for its Australian small companies fund.
The new mandate was given after IOOF consolidated its United Funds Management and MultiMix assets into a single portfolio.
"IOOF was impressed with Legg Mason's stable and experienced team, solid investment process, and long-term performance track record over a variety of market cycles," IOOF Australian equities portfolio manager Dan Farmer said.
The Legg Mason Australian Small Companies strategy was launched in 1996 and is led by portfolio managers Shane Livingstone and Julian Mulcahy.
The Legg Mason Australian Small Companies strategy returned 12 per cent per annum over the 10 years to 30 September 2010, according to data from Legg Mason.
