NETHERLANDS - The Stichting Pensioenfonds Campina has increased its fiduciary mandate with Goldman Sachs Asset Management by e600m to e1bn.
The increased brief has doubled GSAM’s mandate to include all of the pension fund’s assets.
Dutch dairy company Campina appointed GSAM to manage a e400m fiduciary mandate for its pension fund a year ago.
At the time of the original appointment, the pension fund defined quantifiable criteria on which to evaluate the fiduciary partnership after 12 months.
“We found that GSAM more than made good on its promises,” said chief executive officer Henk Vis.
Ruud Hendriks (pictured), managing director at GSAM, said the pension fund had not just been interested in good returns, but also in research, communication, reporting and customer service.
Goldman’s currently manages some e12bn in fiduciary management for Dutch institutional clients including Zorgverzekeraar VGZ, Stichting Pensioenfonds Océ, Pensioenfonds Vervoer and DELA.
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