RCM, the equity management arm of Allianz Global Investors, has lost a mandate with a UK local authority pension fund over performance and strategy issues.

The group ran a US equities mandate worth £168m (€246m) for the £4.2bn Merseyside Pension Fund. Merseyside said RCM's strategy, which looks for stocks that have potential for growth, caused the manager to underperform its benchmark.

RCM loses Merseyside council pension mandate

Lisa Haines

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