New blow as Capital loses €1bn deal in Austria

Capital International, one of the world's largest asset managers which is restructuring in a bid to turn around flagging performance, has suffered a fresh blow after losing mandates worth more than €1bn to Investec Asset Management ($1.5bn) from an Austrian client.

Raiffeisen Capital Management of Austria has terminated Capital for performance reasons, according to a Raiffeisen spokeswoman.

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