The Sidmar N.V. pension fund, Ghent, Belgium, with assets of 3 billion Belgian francs (U.S.$97 million), is considering hiring an additional manager to handle its 1 billion francs per year in new cash flow, said Frederik van Bladel, general manager-accounting, administration and legal affairs.
The steel company pension fund is 85% invested in Belgian government bonds and 15% in domestic equities. The assets are solely managed by Royale Belge.
Any future hire likely would boost the fund's equity exposure.
The plan is underfunded, and has a projected benefit obligation of 7 billion francs.