CANADA - The C$7.2bn (US$4.7bn) Canada Post Corporation Pension Plan (CPCPP) has awarded TAL Global Asset Management a C$1.25bn (US$792m) bond mandate.
Doug Greaves, the pension fund's vice president and chief investment officer, said that TAL Institutional Management - TAL’s institutional investment division - will run the C$1.25bn Canadian index brief on an ongoing basis.
Although he declined to reveal any further details about TAL’s mandate win, Greaves did say that the fund will appoint two active Canadian fixed income managers in February, 2002. The managers will run approximately C$910m (US$576.8m) in bond mandates for the CPCPP. In July, Greaves told IPN that the fund’s fixed income allocation was set at 30% - C$2.16bn (US$4.7bn) - of the CPCPP’s total assets.
Greaves also revealed more about the fund’s plans to invest in alternatives. The fund is currently looking at alternative investment products and managers he said, and is looking at putting alternatives mandates out to tender in the second quarter of 2002.
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