NETHERLANDS - Mn Services has been chosen as fiduciary manager to the €360m SCA 't Anker and SCA Hygiene Products Nederland company pension funds.
Mathijs van Gool, spokesman for the SCA pension funds, said using a fiduciary manager would allow it to benefit from the asset manager's knowledge and expertise in global investment, risk management, monitoring, execution skills and reporting. He said: "Fiduciary management also allows the boards of the pension funds to concentrate on strategy and control."
Roland van den Brink, who has special responsibility for asset management as a member of the Mn Services board of management, said: "The SCA pension funds in the Netherlands are valuable new clients for Mn Services.
"We are convinced that our fiduciary approach and diversification will contribute to the SCA funds' performance."
SCA is a global consumer goods and paper company that develops and produces personal care products, tissue, packaging solutions, publication papers and solid-wood products.
Stichting Pensioenfonds 't Anker administers a pension scheme with around 2,100 members for SCA companies in the Netherlands forming part of the SCA Packaging Nederland division. As at year-end 2007, the invested capital amounted to €183m and the funding ratio was 138%.
Stichting Pensioenfonds SCA Hygiene Products Nederland administers a pension scheme with around 2,800 members for SCA companies in the Netherlands forming part of the SCA Personal Care and Tissue Europe Divisions. As at year-end 2007, the invested capital amounted to €177m and the funding ratio was 136%.
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