WEST PALM BEACH, FL (HEDGECO.NET) – The VKG Belgian Pension Fund is looking for alternative investments, according to a new release. Members of the retirement fund include dentists, pharmacists, anddoctors. Currently the fund has about EUR 500 million in its investment management portfolio. According to released reports, the fund is currently in the process of making some appointments ofalternative investment managers by the end of 2004.
According to Bert Vanbaelen, the financial controller for the VKG pension fund, the retirement fund is considering allocating between 3-5% of its management assets to hedge fund managers. Vanbaelen said, �We have taken the decision to indeed invest in hedge funds but the actual underlying strategies have not been completely finalised yet�. That will translate to about EUR 35 million of investment allocation to hedge funds.
The fund has selected Pragma investment adviser to aid the firm in the selection of appropriate managers and strategies suitable to the investment needs of the company. About 455 of VKG�s funds are currently allocated to equity, another 45% devoted to fixed-income, while 10% is devoted to real estate according to Vanbaelen.
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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