NETHERLANDS- The Pensioenfonds Horeco & Catering (PH&C), the occupational pension fund for the Dutch hospitality and catering industry, has hired RCM to manage a European small-cap equity mandate, a maiden investment for the fund.
In April, the board diversified the portfolio by approving a 1.5% investment each in European and US small-mid cap equity, said Wouter Jan Nabrn, senior manager in the asset management department.
Nabrn said the pension fund expects to hire a manager to run an equal amount in US small-mid cap equities next month.
In April, PH&C approved an allocation of 39% to global equities, 2% to convertibles, 4% to private equity, 5% to commodities, 33.5% to global bonds, 6.5% to mortgages and 10% in real estate.
PH&C's €2.5bn portfolio is managed by 14 external managers.
The Next Generation Pensions Committee is on a mission to promote and encourage younger voices in the industry. Kim Kaveh looks at its key objectives
This week's top stories included an analysis finding the cost of equalising guaranteed minimum pensions in schemes could hit FTSE 100 profits by up to £15bn.
Employers whose dividend to deficit recovery contribution (DRCs) ratios fall outside the "normal range" should expect to see higher regulatory scrutiny, although no fixed ratio will be set.
Investment consultants and fiduciary managers should expect a final decision on the investigation into the market to be published by the end of the year, the competition watchdog says.