The 9.5 billion rand (about $2.2 billion) Iscor Pension Fund, Pretoria, South Africa, selected Polaris Capital Management for a global equity portfolio of undisclosed size. The move is part of Iscor's efforts to diversify investments outside of South Africa. In a statement, fund CEO Hans Nel said Polaris' ``top-ranked global equity performance combined with the firm's experience and value-oriented global philosophy matches our diversification needs.''
Iscor is South Africa's third largest pension fund.
