AUSTRIA – The Vienna based ATS23bn (e1.7bn) Vereinigte Pensionskasse has appointed a new roster of seven investment managers, including five international firms, to manage ATS8bn in assets under a new multi-manager, multi-style approach.

Martin Cech, investment manager at the fund, comments: “On the equities side we have decided to add new mandates, national as well as international, in different styles including quantitative, index tracking as well as fundamental value orientated.
“ With the exception of a small portfolio of Austrian stocks we have outsourced all of our equity management. The decision was to have a multi-manager, multi-style approach.”

Cech declined to name the managers, but noted that five were based overseas, while two were domestic players.
He added that the fund was not making any bond manager appointments for the time being.

The fund has around 30% of its total portfolio in equities, representing around ATS8bn.