Dutch investment management firm Robeco Group has outsourced its fund administration to Fastnet, Netherlands.
Robeco, which has approximately EUR109.7bn assets under management, previously managed the function in-house.
According to a spokesman for the Rotterdam-based firm, Robeco is in the process of transferring the administration to Fastnet and the move was undertaken to “obtain greater flexibility”.
The deal affects the positions of 160 employees at the Rotterdam-based firm. However, the spokesman added that all employees have been offered a contract for Fastnet in a “one-to-one” deal.
“The intention is to give all of the employees the exact same deal as they have here”, he added.
The process is expected to be completed during the first quarter of 2002.
By Madhu Kalia
Proposed changes to The Pensions Regulator's (TPR) notifiable events framework so it can be more proactive when corporates make changes will create a very challenging workload, it has been said.
Aviva has created a new pension skill for Amazon Alexa that allows customers to find out how much they have saved towards their retirement.
PP has compiled a list of what to watch out for over the coming months.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.