Janus subsidiary INTECH has won a $250m mandate from Dutch firm Blue Sky Group, which manages pension assets for KLM Royal Dutch Airlines.
The US large cap enhanced mandate – previously managed on a passive basis -- will now be run in line with INTECH’s risk-managed approach to investing.
INTECH markets itself on the basis of its highly mathematical approach to investing.
Neal Jenkins, international communications director, Janus Capital Group, says: “As a manager, INTECH looks to outperform the index, but within the confines of benchmark risk. We see great potential for INTECH’s risk-managed strategies throughout Europe.”
David Schofield, European director of sales, says: “In the current turbulent climate, achieving excess return at low levels of risk in the most efficient way is a highly sought-after commodity in the pensions world.”
The new mandate has been awarded in spite of Denver-based Janus’ involvement in the market timing scandal. The New York Attorney General’s office recently investigated the firm’s trading activities.
Jenkins says: “INTECH is a majority-owned subsidiary of the company, and has full autonomy in terms of its investment management activities.”
Blue Sky manages €8bn- worth of client assets, all of which is outsourced. About 75% of these assets are run as passive mandates.