The French pensions reserve fund (FRR) has fired an asset manager from a €100million SRI mandate following poor performance. FRR terminated the deal with Belgium-based Dexia Asset Management three years into an expected five-year mandate. Management of the assets has now been shared among FRR’s four other European equity SRI managers – Allianz Global Investors, Morley Fund Management, Pictet Asset Management and Sarasin Expertise Asset Management.
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