FRR drops Nicholas Applegate mandate

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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 manageme...

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