Nordic university and local authority funds continued their hunt for traditional balanced managers during the second quarter of the year, while other investors in the region sought diversification in illiquid alternatives.

A trio of asset managers topped MandateWire’s manager league table in September, winning the most mandates from the asset owners surveyed by MandateWire during the month. However, Western Asset Management Company lost more than $1bn worth of fixed income mandates as investors grew concerned over personnel changes and an investigation by the Securities and Exchange Commission.

HSBC Global Asset Management topped MandateWire’s manager league table in September, winning the most mandates among the European investors we surveyed during the month, while BlackRock attracted the highest net inflows.