NETHERLANDS - Horeca & Catering, the Dutch pension fund for the hospitality and catering industry, has hired Vanguard to run a €36m (US$50.8m) US small-cap equity index mandate.
As of March 31, Vanguard managed $9.3bn in assets in its passive US small-cap equity strategy, according to data on eVestment Alliance.
Vanguard's strategy was down 39.11% in the year ended March 31, besting the MSCI US Small-Cap 1750 Index by 12 basis points, net of fees. In the three year period, the strategy returned -16.76% annualized, topping the index by two basis points.
The €2.5bn Horeca & Catering fund invests 49.56% of its assets in global equities, 40.84% in fixed income, 8.52% in property and the remaining assets in commodity futures.
The proposed cold-calling ban may be ineffective if a collaborative regulatory approach between the UK and the European Union (EU) is not maintained post-Brexit, the Pensions Management Institute (PMI) has warned.
Some 56% of defined contribution (DC) asset managers do not believe they will have transaction cost information in time for pension funds' March year-end statements, according to Lane Clark & Peacock (LCP) research.
NEST has appointed Clive Elphick, Martin Turner, Mutaz Qubbaj and Chris Hitchen as trustee members of its reshaped board.
Most people want to avoid investing in projects that contribute to climate change, and would consider moving to another less-exposed provider, according to a survey commissioned by ClientEarth.