NETHERLANDS - SBA Artsenpensioenfondsen, the pension fund for Dutch doctors, has become the first European pension fund to implement Princeton Financial Systems' ePAM portfolio management and accounting system.
Princeton Financial Systems is a wholly owned subsidiary of State Street Corporation and a provider of investment management and accounting systems, and ASP services for institutional investors globally.
SBA licensed the system last year and is the first European pension fund to utilise the ePAM service model. Previously, the fund used a combination of in-house tools and a third party service provider.
Bert Bos, chief executive officer for SBA, said: “When looking for a system, our goal was to increase our level of professionalism to the general practitioners and medical specialists that we serve in the Dutch pension fund market. To achieve that goal, we needed to take our investment administration and management information in-house.”
He added: “After experiencing a smooth and successful implementation, we are confident that Princeton Financial’s ePAM ASP model will allow us to achieve our goals regarding functionality and technology. We will immediately reap the benefits of this investment.”
Scott Ferrante, Princeton Financial Systems’ chief operating officer, said: “We are extremely pleased to see the success of the ASP model and the ability of PAM to meet the needs of the Dutch pensions market.”
This week's edition of Professional Pensions is out now
MPs failed to place legislation into the Financial Guidance and Claims bill that would have made pension guidance default, which Just Group director Stephen Lowe said left a "bitter taste".
Aegon has called for the government to double the tax exemption on employer-arranged pension advice, up from £500 to £1,000.
Institutional investor confidence in Europe rose by 8.9 points in April with each region showing growing appetite for risk, according to State Street Global Exchange.