AUSTRIA - Austria's second largest pension fund may be lining up an asset liability study at the end of January that could see the tendering of around ATS3.8bn (EUR276.2m).
The move results from the impending merger of the ATS3.8bn Verbund Pensionskasse into the ATS17bn OEPAG Pensionskasse, one of Austria’s seven multi-employer funds.
Board member for the Verbund Pensionskasse - which covers Austria’s largest electricity firm - Frank Paulus, said that the fund was finalising the details of its contract with OEPAG. He added that the fund - whose assets will be held separately - would also be outsourcing its administration.
Paulus would not disclose the name of Verbund’s current managers, but said that the present arrangement consisted of investment houses from The Netherlands, Switzerland and Germany as well as two Austrian fund managers.
The Verbund Pensionskasse has approximately 4,000 members, bringing the total number to around 60,000 in the combined operation with OEPAG.
A consultant is not being used.
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