FIRST CLIENT: Delphi pulls $1.1 billion from GMAM; GE Asset wins mandate for enhanced and quant equity strategies.(News; Delphi Automotive Corp., General Motors Asset Management, GE Asset Management Inc.)

Pensions & Investments, October, 2002 by Williamson, Christine

Byline: Christine Williamson TROY, Mich. - Delphi Automotive Corp. moved about $1.1 billion in actively managed U.S. equities to GE Asset Management Inc. from General Motors Asset Management. GMAM, New York, had managed the bulk of Delphi's $9 billion in defined benefit, defined contribution and foundation assets since Troy, Mich.-based Delphi split off from parent General Motors Corp.

in May1999. Delphi was the first of two pension fund clients in GMAM's ``flexible outsourcing'' program; Xerox Corp. is the other. GE Asset Management, Norwalk, Conn., has more than 50 external clients. According to company information and published sources, Delphi has $3.96 billion in two defined benefit plans and about $2.1 billion in two 401(k) plans; the balance is in...

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