Africa

SOUTH AFRICA - Two of South Africa's biggest fund managers may learn their positions are not set in stone when they are reviewed by the R270m (£19.2m) pension fund of cement firm PPC next week.

SOUTH AFRICA - Over the last three years listed property has proved to be a better investment than bonds and equities, according to multi-manager Investment Solutions (IS).

KENYA - The KES4.25bn (£38.3m) Central Bank of Kenya Pension Fund has outsourced the management of all its assets to global financial services firm AIG.

KENYA - The KES300bn (£2.6bn) Nation Media Group Pension Fund has removed KES111.6m (£1m) from Barclays Global Investor's (BGI) index tracker fund and may invest the money offshore.

SOUTH AFRICA - The R19bn ($2bn) Johannesburg-based Eskom Pension and Provident Fund is reviewing its investment strategy in move that could see its entire assets up for grabs.

SOUTH AFRICA - Non-executive director of South Africa's multi-manager Investment Solutions (IS), Leon Lewis, is to succeed Peet van der Walt who steps down as the firm's chairman in July 2002.

SOUTH AFRICA - The R17m ICL South Africa Provident Scheme has dumped multi-manager Investment Solutions and appointed Franklin Templeton Investments to manage its investments.

SOUTH AFRICA - Multi-manager Investment Solutions (IS) saw its assets boosted by R3.6bn ($374.5m) in the six months to September 30, 2001 to R38bn ($3.9bn).

SOUTH AFRICA - The R30bn ($3.1bn) Engineering Industries Pension Fund is to review its investment strategy in January next year and may allocate some of its assets to alternative investments.

SOUTH AFRICA - The R19bn ($2bn) Eskom Pension and Provident Fund is to switch from a final salary to a defined contribution (DC) scheme by the end of next year.