Axial Investment Management, which oversees about £28 billion ($56 billion) in life insurance assets for the Pearl Group, will outsource at least half the entire portfolio, according to Pranay Gupta, deputy CIO. Axial is taking a novel approach by scanning the industry for the best asset management skills before deciding how the manager can be integrated into its overall absolute-return investment strategy. Led by CIO Jan Straatman former CIO for capital markets at the e209 billion ($283 billion) Stichting Pensioenfonds ABP, Heerlen, Netherlands Axial aims to design an optimum investment strategy for each category of liability in its pool of assets.
The first group of managers is scheduled to be appointed in July. No additional information was available.