FRANCE - The Funds De Reserve Pour Les Retraites (FRR) has terminated a mandate run by Nicholas Applegate Capital Management (NACM) following poor investment performance.
The FFR awarded the €172m (US$211m) US small cap equities portfolio to Allianz Global Investors France, which then delegated management to sister company NACM.
The mandate concerned the management of a portfolio invested US small cap equities. As of the 28th of May the assets under management amounted to The FRR wishes to mention that all wind-up operations were completed to satisfaction.
This week's edition of Professional Pensions is out now
Collective defined contribution (CDC) schemes will need clear and transparent governance frameworks, as well as effective communication strategies, to be a success, the Work and Pensions Committee (WPC) has been told.
The aviation sector's constant evaluation of mistakes to improve safety should be applied to defined benefit schemes, as too many are making the same mistakes again and again, latest research shows.
A month of strikes are due to hit 64 universities from tomorrow over major reforms to the Universities Superannuation Scheme (USS).