Blue Sky Group, the investment management arm of the 10 billion euro ($9.9 billion) KLM Group staff pension plan, Amsterdam, is considering major changes to its equities portfolio, moving into more active management. Gerben Wanningen, fixed income and currencies fund manager, said 90% of its equity assets are under passive management. "Nothing is set in stone, but we are looking at areas where we can add value. … One area where we may go active is, for example, Japanese small caps,” he said. He did not provide details.
Separately, Blue Sky hired Bridgewater Associates, PIMCO and Ashmore Investment Management to run 100 million euros each in active emerging market debt, Mr. Wanningen said. Funding came from terminating State Street Global Advisors, which ran a 300 million euro passive emerging markets portfolio; the termination was due to the shift to active management, he said. Watson Wyatt advised.
