THE NETHERLANDS - Dutch pension fund for health and social workers, PGGM, will consider later this year whether to outsource EUR250m of assets, currently handled by NIB Capital Asset Management (NIB).
The move follows a decision by pension fund giant ABP to take in NIB’s asset management in a bid to pump up its in-house global fixed-income operation.
A spokeswoman for the EUR51bn PGGM fund said that it was too early to say whether the assets would be externalised or brought in-house, since this largely depended on the timing of ABP’s next move.
NIB oversees approximately EUR25bn of assets for stakeholders ABP and PGGM. The EUR150bn ABP has pulled in NIB’s mandates for structured finance and European credit, worth around EUR24bn, and will also take on board some of NIB’s 65-strong staff.
Both funds will continue to employ NIB to oversee their private equity activities.
Commenting on reports that NIB may look to now sell off the remainder of its fund management arm, a spokesman for the group said that the firm’s direction was still a subject for investigation.
By Madhu Kalia
The PPF 7800 deficit was slashed in half last month as gilt yields rose. Victoria Ticha asks if this is the start of a longer trend
Frank Field is to warn Sir Philip Green not to sell his Arcadia business without ensuring defined benefit (DB) pensions are adequately protected, PP can confirm.
Some 79% of people would like to see stricter rules and checks to ensure pension pots are secure, according to a survey by the Pensions and Lifetime Savings Association (PLSA).
An analysis of IGC annual reports finds some lacking in information on value for money, costs and charges, and investment performance. James Phillips explores the findings