KLM Pensioenfonds, Amsterdam, appointed Barclays Global Investors and State Street Global Advisors to run index portfolios as part of a major restructuring of the 17 billion guilder ($6.5 billion) scheme.
BGI manages pan-European government and corporate debt, and State Street manages mandates for European and U.S. equities, said Arun Ratra, chief investment officer.
Mr. Ratra would not give the size of the mandates but said KLM had outsourced its entire equity and fixed-income portfolios to index managers.
The fund was almost entirely internally managed.
