NETHERLANDS/FRANCE – Blue Sky Group, manager of the 6.5 billion euro pension fund of Dutch airline KLM, has appointed Credit Agricole Asset Management to run a global emerging market equity mandate.

Credit Agricole Asset Management, the wholly-owned subsidiary of Credit Agricole SA, will be managing a 42 million dollar mandate in global emerging market equities for the KLM scheme. The mandate will be run through CAAM’s partner, Emerging Markets Management in the US.

Previously, Blue Sky ran its emerging market equities on a passive basis, but believes that an active approach may add significant value over the benchmark. Indeed the scheme has changed its entire strategy. Eighty percent of the fund was run on a passive basis but now 100% of the fund is managed actively. The scheme’s other managers are Pictet and WestAM.

Credit Agricole Asset Management has over 165 billion euros in assets under management worldwide.