Fixed income

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  1. 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.

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  2. 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.

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  3. 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.

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  4. 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.

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  5. 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.

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  6. 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.

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  7. 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.

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  8. 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.

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  9. 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.

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  10. 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.

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  11. 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.

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  12. 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.

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  13. 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.

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  14. 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.

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