Dutch fund pension for metal industry workers, the NLG28.2bn (EUR13bn) Pensioenfonds Metaalindustrie (PMI) is considering a move to specialist managers.
For the moment the Amsterdam based fund has retained Achmea Global Investors (AGI) as its incumbent manager, since AGI is now part of Foreign & Colonial (F&C). The firm will also continue as PMIs pension fund administrator.
A spokeswoman for PMI said that the move would only be implemented if the fund became dissatisfied with Achmea’s performance:
“At the moment we are staying with the work of Foreign & Colonial, with Achmea Global Investors.
She added: “But we are for quality and transparency [and] when that is not the case then we will look further.”
Achmea - which is still under review at the fund - is next due to meet with PMI’s investment committee during Q4.
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