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ERAFP taps AXA Investment Managers for SRI bond strategy
trueL’etablissement de Retraite Additionnelle de La Fonction Publique, Paris, hired AXA Investment Managers to run a U.S. dollar-denominated socially responsible investment bond portfolio.
Metropolitan District Commission seeks managers for 7 strategies
trueMetropolitan District Commission, Hartford, Conn., is looking for managers to run a total of $170 million across seven strategies for its $200 million pension fund, said William Dahab, principal and director of research at Dahab Associates, investment consultant for the commission.
PIMCO reports record $27.5 billion outflows from Total Return in October
trueThe PIMCO Total Return Fund saw an estimated $27.5 billion in outflows in the month of October, the worst redemptions ever in a given month, and a clear indicator that the departure of its portfolio manager and PIMCO co-founder William H. Gross led to significant assets leaving the firm.
Secondary loan trading volumes up 20% from 2013
trueSecondary loan trading volume was up 20.3% year-to-date compared with the first three quarters of 2013. Third-quarter trading volume rose 37.2% from a year ago. Trading volume totaled $475.5 billion through the first three quarters of 2014, up from $395.1 billion a year ago.
New Mexico PERA launches emerging markets debt search
trueNew Mexico Public Employees Retirement Association launched an RFP for an emerging markets debt manager to run a $150 million to $200 million portfolio.
Ohio Bureau of Workers' Compensation gives $3 billion to 4 bond managers
trueOhio Bureau of Workers' Compensation hired J.P. Morgan Asset Management, Loomis Sayles & Co., Prudential Financial and TCW Group to run about $725 million each in active domestic core-plus fixed income for the $24 billion state insurance fund.
New Hampshire commits to co-investments with BlackRock, terminates PIMCO
trueNew Hampshire Retirement System, Concord, committed $150 million to a private equity co-investment strategy managed by BlackRock Private Equity Partners. The pension fund also terminated PIMCO from a $200 million active domestic core-plus fixed-income portfolio.
Andrew Carter, father of active bond management
trueAndrew M. Carter — the father of active bond management who also created the first bond index fund and was considered “one of the finest math guys” in fixed income — built a clientele of some of the biggest corporate pension funds.
Battle for share of PIMCO spoils is getting hotter
trueThe money spigot is expected to keep flowing for PIMCO competitors who are working hard to snare the billions in fixed-income investments in play following September's departure of William H. Gross from the firm he co-founded.
Hawaii Employees OKs real estate, infrastructure commitments
trueHawaii Employees' Retirement System, Honolulu, approved $105 million total in real estate commitments and a $50 million infrastructure commitment, said Vijoy Chattergy, chief investment officer.
Amundi Smith Breeden going global after merger
trueAmundi Smith Breeden LLC has been in growth mode in the year since its creation from the acquisition by Paris-based Amundi of U.S. fixed-income specialist Smith Breeden Associates.
Global, diversified managers in best position moving forward — report
trueImprovements in technology and regulatory reform have made geographical constraints even less of an issue in terms of capital management, resulting in the asset management industry becoming more global, a recent report by Goldman Sachs said.
N.Y. Power taps 2 bond managers for Nuclear Decommissioning Trust
trueNew York Power Authority, White Plains, hired Garcia Hamilton & Associates and C.S. McKee as active core fixed-income managers for its $1.4 billion Nuclear Decommissioning Trust Fund, said Paul DeMichele, spokesman, in an e-mail.
Russell replaces PIMCO with Scout on 2 bond funds
trueRussell Investments has moved at least $2 billion that was managed by PIMCO in its multimanager strategies and funds, terminating the firm and replacing it with Scout Investments, filings and company statements show.
Fort Lauderdale Police & Fire axes PIMCO
trueFort Lauderdale (Fla.) Police & Fire Retirement System terminated Pacific Investment Management Co. from a $37 million portfolio, said Frederick H. Nesbitt, director of public information.