Goldman fires Parametric
Goldman Sachs Asset Management has dropped Parametric Portfolio Associates as a subadvisor on the $496.2 million Goldman Sachs Multi-Manager Global Equity fund, effective November 13, according to a Securities and Exchange Commission filing.
It has a roster of subadvisors including: Epoch Investment Partners, Causeway Capital Management, Fisher Investments, GW&K Investment Management, Boston Partners Global Investors, Scharf Investments, Vulcan Value Partners, WCM Investment Management, Russell Investments and Principal Financial Group.
AIG partners with Pimco for index launch
Insurance giant American International Group has partnered with bond behemoth Pimco to launch the Pimco Global Optima index.
Developed for AIG’s Power Series of index annuities, the index is not available for direct investment.
The new index, which uses quantitative rules to adjust its allocations across a diverse range of US equity, international equity and US fixed income markets, is one of the first global quantitative indices to incorporate momentum and value signals to be made available in this market, according to Robert Young, head of Pimco’s US financial institutions group.