BELGIUM - Following a meeting of its investment committee the EUR3.5bn Belgacom pension fund has decided to tender two new portfolios.
The fund for the Belgian telecommunications giant is seeking managers for a near EUR175m real estate brief and an undisclosed corporate bond portfolio.
In April IPN exclusively revealed that Belgacom was set to conduct a new asset-liability study following an additional contribution of EUR670m to the fund. At the time Belgacom’s strategic allocation was split 50/50 between global equities and European fixed income.
It is understood that details of a move into a hedge fund of funds are still being considered.
Deadline for applications is the beginning of October.
By Madhu Kalia
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers