BELGIUM – The pension fund of Belgian telecoms provider Belgacom SA has put out to tender an international equity mandate.

The appointed managers and associated companies will manage the assets invested in international shares with a market value of at least 25 billion euros as of June 30 2002. Between three and 10 companies will be invited to submit tenders.

Fabian de Bilderling, senior investment officer at the pension fund, confirmed that, at the final stage, at least one manager will be appointed.

The fund is still undecided about the size of the mandate, or where the funds will come from. Says de Bilderling: “The funds may come from potential future contributions, or from a realignment of the current portfolio, or both.”

The closing date for the receipt of tenders and participation requests is January 3 2003.

The Belgacom pension fund has a capital value of over three billion euros. As of December 31 2001, 51% was invested in European Bonds, 26.4% in European equities, 21.1% in World ex-Europe equities, 0.9% in emerging markets equities and 0.6% in cash.