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.
An innovative funding structure has been agreed for Croydon Pension Fund. However, there are some concerns about the arrangement. Stephanie Baxter reports
Some 52% of red flags raised by schemes on suspected scam pension transfers involve advisers or unregulated introducers, a report by the Pension Scams Industry Group (PSIG) has claimed.
In this week's Pensions Buzz, we want to know whether bosses should have to pay into the same staff DB scheme as their workers rather than their own executive pension fund.
The Norfolk Pension Fund has been successful as the lead plaintiff in a class action case that went to jury trial in California involving securities fraud.