SWITZERLAND - Swiss retailer Manor AG has hired Barclays Global Investors (BGI) to run an unspecified amount in passive equities.
Wilfred Stoecklin, the firm’s vice president - finance, said that BGI had been hired along with another unnamed firm to run new mandates for Manor's CHF1.3bn (EUR886m) pension fund. Stoecklin said that the other firm will run an active global equities portfolio.
According to International Pension Funds and their Advisors, the fund's asset allocation currently stands at Swiss equities, 25%; overseas equities, 15%; Swiss bonds, 18%; mortgages, 6%; capital guaranteed products, 4%; overseas fixed income, 14%; property, 15.5%; and alternatives, 2.5%.
By Geoffrey Ho
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