Belgacom Pension Fund, the largest fund in Belgium, is looking for a specialist international equity manager. The size of the mandate is Bfr8.5bn ($225m).

The amount awarded is new money, says the fund, resulting from the Bfr15bn 1998 contribution to the fund by sponsor Belgacom, from which pension payments of around Bfr6.5bn are to be deducted. The Bfr82bn fund says the full amount of the balance will be allocated to international equity to increase its equity exposure and wider diversification.