BELGIUM - Telecoms giant Belgacom is looking for managers for its E3.1bn pension scheme.
The scheme is tendering one new diversified international equity mandate with two lots. The first brief has an ex-post tracking error of between 2%-6% and the second without traditional benchmarks.
The size of the mandates are yet to be determined and could be sourced from potential new money or a possible realignment of the entire portfolio, explained senior investment officer, Fabian de Bilderling.
All potential applicants must have at least E25bn institutional equities under management at the end of June 2002.
Existing managers of the Belgacom scheme who handle more than E350m for the pension fund will not be considered.
Currently, Belgacom has a 44%/56% equity/fixed income split but aims to equalise this.
The deadline for rfps is January 3, 2003.
Between 3-10 invitations to tender will be dispatched by March 1, 2003.
On a separate note, de Bilderling added that the scheme was still considering further portfolio diversification but that no concrete decisions would be made in the short term.
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