SWITZERLAND - The CHF10bn Pensionskasse Poste - formerly part of the Pensionskasse des Bundes - is expected to finalise its investment direction by the end of November, and may look to boost its equity exposure once it starts to outsource up to CHF4bn during Q1, 2002.
The move is one of many on the undisclosed agenda for the Berne-based fund. An overall return of 6% is targeted by the fund which may prompt the additional equity boost.
Pensionskasse Poste is set to go live in January 2001. The fund said that the strategic allocation used by Pensionskasse des Bundes would be the benchmark against which investment decisions were made - around 46% in Swiss bonds; 19% in overseas equities; 18% in Swiss equities; 12% in global bonds; and 5% in property.
Pensionskasse Poste still has time to fix its investment strategy since the Swiss government will cover the initial funding.
The fund is advised by PricewaterhouseCoopers.
By Madhu Kalia
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