NETHERLANDS - The e1.5bn Dutch pension fund TNO is outsourcing its entire asset administration to KAS BANK.
Announcing the contract win, KAS BANK said the outsourcing was in line with the trend of increased demand for added value services such as investment management information services from pension funds, spurred on by their desire to focus on their core activities.
TNO Pension Fund director Erik van Ballegooijen said: “The pension fund has particularly selected KAS BANK due to the manner in which KAS BANK has thought along with TNO for many years on solving problems and for example on providing tailor-made reports.
“Due to our co-operation over several years with KAS BANK, we have gained sufficient trust to decide to also outsource this new asset administration service to KAS BANK.”
KAS BANK managing director Laurens Vis said: “By outsourcing its asset administration, TNO will benefit from the possibility of outsourcing its administrative duties that do not belong to the pension fund’s core activities.
“This will have a positive effect on the fund’s performance, which will partly be attributable to the price/quality of our services.”
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