NETHERLANDS - The €11bn ($15bn) Pensioenfonds Vervoer, the pension fund for the transport industry, has hired Robeco as its new fiduciary manager.
Robeco replaces Goldman Sachs Asset Management who was dropped from the mandate last year for underperformance. (Global Pensions; 28 April 2010) Robeco will help the scheme form a strategic investment...
US/NETHERLANDS - CB Richard Ellis (CBRE) has completed the acquisition of ING Real Estate Investment Management (ING REIM) Europe, marking the final stage of CBRE's absorption of ING's real estate business.
NETHERLANDS - ABN Amro predicts half of Dutch company pension funds will shift assets to insured schemes.
ITALY - BNL/BNP Paribas Employees' Pension Fund has hired State Street Global Advisors to run an €82m ($113m) custom fixed income mandate while the Cariplo Pension Fund renewed a European equity mandate worth $71m.
NETHERLANDS - Dropping interest rates knocked the coverage ratio for Pensioenfonds Zorg & Welzijn (PFZW) down to 91% and Stichting Pensioenfonds ABP's down to 90%.
US - The board of the California Public Employees' Retirement System renewed the contracts of the 16 external managers responsible for its $123.3bn global equity portfolio.