SWITZERLAND - The EUR6.8bn pension fund for Swiss postal workers, Caisse de Pension Poste, has awarded mandates to fund managers UBS, Credit Suisse and Pictet, Jurg Bucher, president of the fund's investment committee said.
The Berne-based fund, which went live at the start of the year, awarded UBS Asset Management EUR196m to run in global equities, whilst Credit Suisse and Pictet will each run EUR196m Swiss equities mandates.
Last November, the fund selected PPCmetrics and UBS as its respective investment consultant and custodian.
PriceWaterhouseCoopers is the fund’s actuary.
The fund was developed for Swiss Post whose approximately 60,000 members were previously part of the Pensionskasse des Bundes - the pension fund for Swiss government employees. Prior to the formation of their own fund Swiss postal workers' pension assets represented almost a third of Pensionskasse des Bundes’ total assets.
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