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The Frankfurt branch of Universal-Investment Luxembourg takes over a one billion Euros mandate for Japanese equities from a large institutional investor. The Portfolio Management unit transferred the fund segments, which were originally given to two active asset managers, at the end of last year. Since then, portfolio manager Joming Chiang from the Asset Management Securities unit has been managing the new portfolio with a passive approach that replicates the MSCI Japan Net Total Return index.
The move to Universal-Investment Luxembourg comes as the pension institution decided to change its investment strategy. Instead of an active stock-picking approach, a large part of the Japanese large and mid-cap market is now passively tracked. "The ongoing pressure to generate...
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