Belgacom, the Belgium telecom operator, has put out to tender two global equity mandates for its €3.1bn ($3.1bn) pension fund.

The fund will open the tender to its existing investment firms, including Putnam Investments and Wellington Investment, the fund's specialist global equity managers. Existing Belgacom fund managers must currently be running mandates of no more than €350m in order to be considered. The tender is also open to new managers who have at least €25bn in assets under management.