SWITZERLAND - The newly-created Pensionskasse Poste may outsource between CHF3-4bn during Q1 next year following in an initial transfer from its CHF10bn assets.
The Berne-based fund which is set to go live in January 2001 is also on the verge of appointing its global custodian and investment controller.
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.
Jürg Bucher, president of the investment committee said that fund was looking to place the amount across both domestic and international markets, but is yet to finalise allocations. Pensionskasse Poste still has time to fix its investment strategy since initial funding will be made by the government.
Earlier this year, Bucher told IPN that the fund was aiming for an overall return of between 5-6%.
The fund is advised by PricewaterhouseCoopers.
By Madhu Kalia
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