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BlackRock Loses Natixis Mandate
The board of trustees of Natixis Funds Trust has dropped the subadvisory contract of BlackRock.
The board of trustees of Natixis Funds Trust has dropped the subadvisory contract of BlackRock, MutualFundWire reports, citing MorningStar. BalckRock will now no longer be an advisor to the Natixis U.S. Diversified fund.
Natixis subsidiary, Loomis Sayles, will replace BlackRock’s portion of the portfolio on May 31, 2011 and its vice president, Aziz Hamzaogullari, will manage the large-cap growth segment of the fund. The fund’s board has also approved the renaming of the fund to Natixis U.S. Multi-Cap Equity Fund.
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