NETHERLANDS - Grontmij Pensioenfonds has appointed fixed income specialists PIMCO to manage a e300m liability driven bond portfolio.
The mandate will be managed against a customised benchmark and will seek excess returns of 1.5% relative to the benchmark. Grontmij worked with consultant Watson Wyatt and PIMCO to define the benchmark based on Grontmij’s liability cash flow profile.
Marc B.M. van Heel, PIMCO’s head of business development in the Benelux said: “We are delighted to be working with Grontmij Pensioenfonds. This mandate win further reinforces our total commitment to the Dutch institutional market and our growing portfolio of LDI mandates.”
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