SOUTH AFRICA - The R1.8bn ($196.3m) Altron Group Pension Fund is currently reviewing its two foreign equity managers and may put this mandate out to tender.
Manager of the electronics group pension fund, Belinda Phillips declined to name who the existing fund managers are but said that one of these is a local manager and the other also has an offshore presence. She said the pension fund is in the process of reconsidering its options and should reach a decision within the next four weeks.
International consulting firm Brockhouse Cooper is assisting in the review.
The Altron Group Pension Fund’s two existing foreign equity managers currently hold R269.6m ($29.4m) of the fund’s value. The remainder of the fund is invested in domestic equities, R1bn ($116m), property, R138,2m ($15m), fixed interest, R319.5m ($34.8m) and cash, R7.9m ($863,676).
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