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UN recruits for pension fund

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GLOBAL - The United Nations Joint Staff Pension Fund is recruiting senior managers for its real estate and fixed income allocations.

The senior investment officer for fixed income will run the fund's global bond allocation and short-term investments.

Bonds currently make up 29.8% of the fund, against 31% set out in its long-term guidelines. The fund is currently under-target in short-term investments, which make up 4.9% against a long-term guideline allocation of 3%.

In contrast, the most recent figures show the fund's real estate allocation currently stands at 4.1% against long-term recommendation of 6%.

Recruitment ads for the real estate role stipulate familiarity with REITS - indicating a requirement for expertise in both direct and indirect investments.

Applicants for the real estate role - though not the fixed income role - will also need to demonstrate awareness of the UN's global compact principles, including companies' records on human rights, anti-corruption and "greater environmental responsibility". The new hire will need to maintain a "high standard of transparency and accountability".

No further details were available on these or a third vacancy for the more junior role of risk manager

Anastasia Rotheroe, who manages European investments for the fund, declined to comment on the recruitment campaign, which included prominent adverts in the Financial Times. She said the UN commented on neither staff nor investment issues.

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