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Global Pensions | 15 Sep 2011 | 13:15
Categories: Netherlands, Mandates
Topics: Pensioenfonds vervoer, Robeco
NETHERLANDS – The €11bn ($15bn) Pensioenfonds Vervoer, the pension fund for the transport industry, has hired Robeco as its new fiduciary manager.
Robeco replaces Goldman Sachs Asset Management who was dropped from the mandate last year for underperformance. (Global Pensions; 28 April 2010)
Robeco will help the scheme form a strategic investment policy and monitor external managers.
"During the selection process Robeco turned out to be the party most capable of integrally supporting the asset management needs of Pensioenfonds Vervoer", said Roelie Hidding and Leon Ceelen, respectively the employees' and employers' chairmen of the board at Vervoer.
The scheme is 98.6% funded.
As of June 2009, the pension fund allocated 57% in fixed income, 28.5% in equities, 4.5% in hedge funds, 2% in infrastructure and 1% in commodities, according to the most recent annual report available on its website.
Categories: Netherlands, Mandates
Topics: Pensioenfonds vervoer, Robeco
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