Belgacom Pension Fund, Brussels, converted all its balanced mandates to multiasset ones, said Phillip Neyt, general manager. The 139.5 billion Belgian franc ($3 billion) plan wanted to improve its risk management and wants to use only specialist active money managers. Details on the allocation for each portfolio were not available.
Goldman Sachs’ 11.4 billion franc active balanced mandate will be split into three portfolios: fixed income, European equities and global equities including Europe. Lombard Odier’s 11.5 billion franc active mandate will be split into fixed income, European equities and international equities excluding Europe. Also converted to multiasset mandates were passive balanced portfolios managed by Barclays Global Investors, 11.2 billion francs; State Street Global Advisors, 33.6 billion francs; and Fortis Investment Management, 22.6 billion francs.
