Swissair Group pension plans, Zurich, hired Wellington Management International to run 120 million euros ($109 million) each in separate active U.S. and European equity portfolios. The mandates are for the pension plans’ pooled funds, set up earlier this year by Pension Fund Services, which administers the Swissair pension plans, said Felix Kottmann, investment adviser to the pension plans and CEO of Kottmann Advisory.
The plans also hired Capital International to run 120 million euros in active Pacific equities; Bank of New York, 120 million euros in enhanced-index U.S. fixed income; and Dresdner Investment Management, 120 million euros in enhanced index European bonds, said Mr. Kottmann.
The Swissair Group pension plans comprised, as of Dec. 31, the 2.9 billion Swiss franc ($1.8 billion) VEF plan for flying staff; the 5.5 billion franc APK plan for ground staff; and the 670 million franc KV plan for senior management.
