The newly merged NGS Super fund has dropped Bernstein from its international equities lineup following a review of its portfolio last month.
The review also resulted in the termination of a $190 million mandate with National Capital Alliance and a $37 million investment in the Lazard Global Equities Fund as previously reported in the December issue of Investment & Technology magazine. Broad global shares mandates held by BGI and Morgan Stanley have been retained, as well as an emerging markets mandates held by Colonial and a smaller companies mandate held by Goldman Sachs JB Were. According to Colin McGuinness, NGS Super chief executive officer, transition of the sector began last month and was recently completed.
13 December 2005 00:00
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Investments
Asset managers that underestimate the importance of artificial intelligence to their businesses do so at their own peril, according to Anton Eser, global chief investment officer of Robeco, who thinks that many have less than a year to get across the “most important transformation” the industry has seen since the beginning of the index business more than 25 years ago.
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