BELGIUM – The €1m Gemeentebestuur Nijlen local council pension fund is tendering for its first pension fund investment manager.

The recently established fund based near Antwerp has 75 members.

“We only want an organisation (bank or insurance company) to invest our money safely,” said scheme spokesperson Pieter Marien.

“We want an annual fixed interest rate without any risk,” he added.

The management mandate will be awarded on the basis of, amongst others, cost structure and an actuarial study. No fixed time period has been attached to the mandate.

According to Marien, no adviser is being used in the open tendering and selection process.

All tenders should be drawn up in Dutch. The closing date is May 10.

“All the proposals of the companies will be compared and the best offer wins,” Marien told IPE.