SWEDEN - The EUR113m Sandvik pension scheme has decided to manage its assets in-house, but has not ruled out the possibility of externalising the portfolio at a later date.
The fund for Sandvik, an industrial manufacturer, was contemplating outsourcing the monies in both domestic and international capital markets last year but has decided on gradually phasing in the in-house management.
Gunnar Batelsson, financial director of the Sandvike-based fund, said that the assets would be supervised internally, ”at least initially”, although there was no set time frame on this.
He added: “[Outsourcing] was not a principle-based issue. But we believe we can do this just as well as any investment manager.”
The fund’s asset allocation stands at equity at 20% (on a global-basis), and fixed-interest at 80% placed in the Swedish bond market.
By Madhu Kalia
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