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.”
Here are key takeaways from our 2019 Asset Allocation Outlook on how we are positioning asset allocation portfolios in light of our outlook for the global economy and markets.
This week's top stories included a Freedom of Information request revealing more than 100,000 savers could face six-figure tax bills as a result of GMP equalisation.
The Pearson Pension Plan has entered into a £500m pensioner buy-in with Legal & General (L&G) in the insurer's first deal of 2019.