SGAM loses €331m US equities mandate

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FRANCE - The €29.1bn French Pensions Reserve Fund, Fonds De Reserve Pour Les Retraites (FRR) has dropped Société Générale Asset Management (SGAM) from a €331.5m US mid-cap equities mandate for performance reasons.

"The FRR has decided to terminate a management mandate contracted with due to an ongoing unsatisfactory performance," the fund said in a release this morning. The FRR said it had delegated finan...

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