BELGIUM - The launch of Amonis could be the first step in a pan-European pension platform, according to the Brussels-based pension fund for doctors, dentists and pharmacists, VKG-CPM.
Services provided by Amonis allow for a supplementary pension in the healthcare sector. Professional categories can set up their own pension fund through Amonis or invest through the SICAV - open to both institutional and retail investors - which becomes active from next month.
The structure consists of a co-operative (Amonis), a mutual insurance company (Amonis Life - yet to be approved) and an investment company open to private and institutional investors. Both operations will leverage off the EUR552m VKG-CPM’s asset management, administration and actuarial expertise.*
Although VKG-CPM insists that the introduction of Amonis does not mean the end of the fund, general manager Karel Stroobants acknowledges that the structure could result in a pan-European plan as well as opening the door to other sectors:
“[The] SICAV has a European passport and is theoretically open for all European citizens if we want. Of course this structure opens several international possibilities which we study and are open for,” he said.
Active membership of the new fund could be as much as 250,000. Stroobants confirmed that the initial target is around 100,000, with Amonis currently discussing membership with the VKA chemists sector. The Belgian VIKIN pension scheme consisting of about 24,000 kinesiologists has already joined Amonis.
* Alliance Capital - emerging markets (large-cap)/European global large-cap value; Bank Corluy Effectenbankiers - European gilts; Fiduciary Trust - European corporate bonds; Gartmore - European global large cap growth/Japanese mid cap growth; MFS International - US and Canada mid cap growth; Singer & Friedlander - European small caps; Puilaetco - European mid cap growth. State Street oversees management of the Sicav.
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