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Article: News: BIAM slide continues with an additional e1.9bn outflow.
- Article from:
- epn: European Pensions & Investment News
- Article date:
- April 10, 2006
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Byline: Chris Newlands
Bank of Ireland Asset Management (BIAM), the unsettled Irish fund manager with assets under management of E45bn, reported further asset outflows of E1.9bn in the 12 months to 31 March 2006 - an asset drop of more than E12.5bn since March 2004.
Coras Iompair Eireann, the E1.4bn Irish state-owned transport operator, for which BIAM runs a E400m mandate, has also said it plans to dump the Irish house when its contract runs out in June.
The investment house, which has struggled with the departure of senior managers - including Ciaran O'Neill who left the firm two months after joining from Fidelity in March last year - said that ...