IRELAND - The e1.5bn Irish post office pension fund, the An Post Superannuation Fund, is set for an overhaul of its entire investment structure, following a review of its investment strategy.
Fund officials said that existing managers will be reviewed and the fund could possibly appoint new managers for various asset classes.
“Following the study, the asset allocations needs to reviewed and there could be some investment manager changes. This may well involve some new managers,” said one fund official.
Currently around e1.05bn is managed by Bank of Ireland Asset Management, Irish Life Asset Management and KBC Asset Management. Fischer Francis manages most of the bond portfolio.
The fund had conducted an ALM study late last year with consultant Mercer and any new changes will be in line with the recommendations made by the study.
The fund is also expected to decide on a strategy for alternatives later this year.
Current asset allocation stands at equities 70%, bonds 23% and real estate 7%.
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