NETHERLANDS - Dutch construction company NBM Amstelland has split one of its pension funds into two and is considering inviting investment managers to tender for the new funds.
The split follows NBM Amstelland’s partial sale of its construction activities, where it was agreed that the NLG500m (£142m) Pension Fund NBM Amstelland’s assets would be shared among the two funds.
The funds, the NLG100m (£28.4m) Pension Fund Amstelland and the NLG400m (£113.7m) Pension Fund BAM NBM may receive new investment managers once NBM Amstelland has examined its investment options. Aegon Asset Management currently manages the assets of Pension Fund NBM Amstelland.
Pension Fund Amstelland will have 300 active pensioners and Pension Fund BAM NBM has 1500 active pensioners.
NBM Amstelland’s second fund, Pension Fund Cement Bouw, will not be affected.
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