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.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.