Stichting Pensioenfonds Akzo Nobel, Arnhem, the Netherlands, awarded...

Stichting Pensioenfonds Akzo Nobel, Arnhem, the Netherlands, awarded European equity mandates of E133.3 million ($138.6 million) each to Scottish Widows, Mercury Asset Management and AXA Rosenberg. The E3.3 billion fund also is looking for external managers for a new E150 million Asia and emerging market mandate, said Bob Puijn, director of financial assets. The fund’s board decided to reduce the real estate portfolio to 10% from roughly 15% of total assets and invest the difference in emerging markets. The current asset allocation is 60% European and international fixed income, 30% European and international equities, and 10% real estate.