CANADA - The C$2.6bn (US$1.7bn) Montreal-based Abitibi-Consolidated Pension Fund has put its proposed asset liability study (ALS) off until February 2002, according to the fund's pensions director, Larry Johnson.
Johnson declined to elaborate on the reasons behind the delay, although he did say that one factor was the departure of the fund’s chief financial officer, Dan Perkins. Johnson said that Perkins will be replaced in September by Pierre Rougeau.
The ALS was due to begin in June, with a review of the fund’s investment strategy set for August. In April, Johnson told IPN that mandates might be put out to tender after the completion of the review and ALS. The mandates, each potentially worth C$130m (US$84.4m), would mark the fund's entry into market neutral hedge funds, international bonds and real estate.
The fund's current asset allocation is set at 50% in Canadian fixed income; 20% Canadian equities; 17% in US equities; and 13% in non-American equities.
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