FRR axes BlackRock from US small-cap

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FRANCE - The Fonds de réserve pour les retraites (FRR) has fired BlackRock from a €478m ($651m) US small-cap equity portfolio, taking 87% of the assets the firm runs in the strategy.

The FRR said it terminated BlackRock because of poor performance. According to eVestment Alliance, a database of manager portfolios and performance, as of September 30, BlackRock ran $742.6m in...

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