London-based fund manager Attica has dumped Newton Investment Management (NIM) in favour of Societe Generale (SGAM) to oversee a portfolio for its multi-manager UK equity fund.
The replacement follows a recent overhaul in ownership and personnel at Newton.
Derrick Dunne, director of Attica, said: “We have been following SGAM as an alternative manager for our UK Fund. Our multi-manager process relies on swift and effective decision-making when needed.
He added: “[Our] qualitative and quantitative research illustrates that SGAM is complementary to our other incumbent managers, Liontrust and Royal London.”
Recent changes at NIM include the appointments of Helena Morrissey as CEO; Ed Britton as head of fixed income; Jeff Munroe as CIO; Colin Campbell as COO; and fund manager Stewart Cowley as head of Newton global bonds.
Commenting on the win Rufus Warner, director of SGAM observed: “Multi-manager structures are an area of increasing focus for the industry and we are happy to be playing a role in this development.”
By Madhu Kalia
The Pensions Regulator (TPR) has granted 11 master trusts extensions to apply for authorisation, as it confirms it has received 22 applications ahead of the 31 March deadline.
Aegon Master Trust, Fidelity Master Trust and Ensign have sent off their authorisation applications to The Pensions Regulator (TPR).
Self-administered pension funds spent £15bn on payments to pensioners in Q4 2018, but received just £12bn in contributions (net of refunds), Office for National Statistics (ONS) data reveals.
Aberdeen Standard Investments (ASI) and Gresham House are to team up to form a joint venture.