Voorzorgskas voor Geneesheren, Tandartsen & Apothekers VZW hired two currency overlay managers to hedge its non-euro bloc exposure, said Karel Stroobants, deputy general manager.
The 14.5 billion Belgian franc ($387 million) fund for Belgian doctors, dentists and pharmacists hired A.G. Bisset and State Street Global to hedge the fund's 4 billion franc exposure to currencies outside of what is expected to be the 11-member state euro bloc. The mandates were split evenly between the two managers.
No consultant was used. Baptist Health Care Systems, Louisville, Ky., hired Fidelity as bundled provider for its 403(b) plan and 401(a) plan.
Fidelity will provide the same 15 investment options for each plan in addition to record keeping and education.
The $25 million 403(b) plan had used four Fidelity mutual funds and a MetLife GIC fund as options; the $10 million 401(a) plan had NAMCO, Invesco and Safeco as investment managers for three investment options. Benefit Actuaries was the record keeper for the plans. Mercer assisted.