Business Services Industry
News: Invesco loses $480m deal after Alaska turns frosty.(Invesco Capital Management, Alaska Permanent Fund Corp.)(Brief Article)(Statistical Data Included)
Financial Times Mandate, July, 2002
Californian funds house Tukman Capital Management has snatched a $480m mandate from Invesco Capital Management.
Tukman beat off competition from Wellington Management and Barrow, Hanley, Mewhinney & Strauss to win the large-cap US value brief from Alaska Permanent Fund Corporation (APFC).
Alan Moore, chief investment officer at APFC, said the reasons for replacing Invesco were style and performance-related. "We had had Invesco for the past 14 years. For the good part of that period, performance was satisfactory, not great, but their style performed consistently. But four years ago, they allowed style drift to creep in, which was unfavoured by the market," he said.
"When they eventually corrected the style drift, it was also badly timed. We...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- LIFO vs. FIFO: a return to the basics
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
