NETHERLANDS - Dutch travel and transport industry pension scheme Stichting Bedrijfstakpensioenfonds voor het Beroepsvervoer over de weg ("Vervoer") has awarded Northern Trust a e7.5bn mandate as it begins a shake up of its operations.
Vervoer interim MD Hans van der Klink said the global custody, compliance monitoring, performance measurement, commission recapture and securities lending mandate was the first step in a full reorientation of the way fund’s assets and liabilities were managed.
“We have established a small but highly skilled executive office in conjunction with a fiduciary asset management model, which will be at the core of the new structure,” he said. “We feel that our model could well become an example of best governance practice for smaller and medium sized pension funds in the Netherlands.”
By Damian Clarkson
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.