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Paradigm Asset Management Co LLC Has $2 78 Million Holdings in Lowe s Companies, Inc (NYSE:LOW)
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Two new members join UCLA Foundation Board of Directors
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Small funds pay more, get less returns than larger plans – study
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Philly pension board taps Capital Group to run $88 million
Pension plan also places Strategic Global Advisors on watch
Philadelphia Board of Pensions and Retirement selected
Capital Group to run $88 million in an active developed market international large-cap core equity strategy, said Christopher R. DiFusco, chief investment officer for the $6.4 billion pension fund.
The search was launched in January 2020 to balance the plan s current international large-cap value equity manager, Causeway Capital Management. The two managers will manage the same amount of capital.
Marquette Associates, investment consultant to the retirement plan, assisted in the search.
In addition, the board placed its non-U.S. small-cap core manager, Strategic Global Advisors, on watch, citing underperformance. SGA manages roughly $37 million on behalf of the pension fund.
Northern Trust expands buy-side users for FX currency management operations
The new client wins signify a growing acceptance among asset managers to use custodians for a range of front-office services.
Northern Trust has seen significant uptake of its FX currency management services after expanding multiple asset servicing mandates with buy-side clients over the past year.
The Chicago-based custodian has onboarded the likes of European asset managers Blackwall Capital Investment, Kieger and TT International Asset Management, while also expanding its existing mandate with The Asset Management Exchange (AMX) and Rockefeller Asset Management.
The mandates build on several new client wins for Northern Trust in recent months, which included a middle-office and outsourced FX dealing mandate with US hedge fund Strategic Global Advisors, and a front- and middle-office outsourcing deal with asset manager Westwood Holdings Group.