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Positive performance fails to stem quant outflows at BlackRock

The world's largest money manager has continued to experience outflows from its quantitative asset management arm, as the Connecticut pension plan becomes the latest client to terminate a mandate

BlackRock Scientific has been stripped of an $778m active equity mandate by a US pension scheme, as the troubled quantitative arm of the world’s largest money manager continues to suffer outflows despite good performance.

Connecticut Retirement Plans and Trust Funds, a $23bn pension scheme, dumped BlackRock Scientific after an April Investment Advisory Council meeting.

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