SWEDEN - Pharmaceutical giant AstraZeneca is to put four mandates for its defined contribution (DC) plan out to tender during the third quarter.
Michael Runnakko, pensions and benefits manager at the EUR259m fund, said that the fund will begin its search for new DC providers after the second quarter and hopes to have firms in place by the end of the year. The selected firms will be on a three year contract, he said.
Although he declined to name the current providers, he did say that their contracts will expire at the end of the year, hence the upcoming search.
Additionally, Runnakko said that the fund had selected Handelsbanken Asset Management to run a EUR99.3m fixed income mandate for its defined benefit scheme.
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