Blue Sky Group is planning to shift its entire €4.2 billion ($5.71 billion) passive global equity portfolio into 120/20 or 130/30 strategies, said Ramon Tol, fund manager in equities. The group manages about €12 billion in pension assets, mostly on behalf of KLM Royal Dutch Airlines, Amsterdam.
“A manager is much better able to reflect their ideas and stock rankings into the portfolio” under the 120/20 and 130/30 strategies,” Mr. Tol said, speaking at the Alpha Max 2007 conference today in Lisbon, Portugal.
Blue Sky is currently looking to shift a $300 million large-cap portfolio managed by INTECH, which is being considered to run the money in a 120/20 strategy. The asset manager initially converted a $300 million passive U.S. large-cap portfolio to a 120/20 portfolio in 2006, managed by State Street Global Advisors.
There’s no specific timeframe for shifting the rest of the passive equity portfolio. SSgA manages about 90% of the passive equities portfolio, and BGI runs the remainder, Mr. Tol said. Both firms will be considered for the short-extension strategies, he added.
