Johannesburg-based R18bn (€2.6bn) Eskom pension fund has appointed SEI Investments, Morgan Stanley Dean Witter Investment Management and Dresdner RCM Global Investors.

The three firms will be running global equity briefs totalling €390m or 15% of total assets, which is the maximum international investment allowed by South African pension funds, said Brian James, in-house consultant for the fund. He declined to give the split of assets run by each manager.