Caisse Autonome Nationale de Compensation d’Assurances de Vieillesse des Artisans, Paris, France’s national pension fund for crafts workers, hired 10 global equity managers, each to run 150 million euros ($140 million): INVESCO; BNP Paribas Asset Management; Credit Lyonnais Asset Management; Dexia Asset Management; Dresdner RCM Global Investors; Fortis Investment Management; CCF Capital Management; Nataxis-BP Asset Management; Robeco France; and Societe Generale Asset Management.
Frederic Lagier, finance director for the 5.2 billion euro fund, wanted to reduce the number of equity managers from 30, get lower fees and improve reporting from the firms on such factors as benchmark risk and tracking error.
