- River and Mercantile Group (R&M) has been appointed to manage a £700m options mandate for Royal Mail Pension Plan.

James Barham global head of distribution at R&M, commented: "This is a very significant appointment for R&M and highlights the tangible benefits of using structured equity to manage equity risks.

"The derivatives team at R&M has a track record of over 10 years in designing and executing structured equity solutions for clients and we are delighted to be working with Royal Mail Pension Plan and their investment adviser in developing the strategy.

"We continue to see significant demand from pensions and institutional clients for structured equity to shape the profile of investment returns for defined benefit pension plans."

At 11:07am: [LON:RIV] River And Mercantile Group share price was +9.13p at 219.13p

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