Stichting Pensioenfonds voor de Architectenbureaus, the Dutch pension fund for architect practices, has selected F&C Netherlands as its fiduciary partner to manage 3.2 billion of its assets.
F&C has been granted the fiduciary mandate to provide asset allocation and strategic advice (including asset liability management). It will also provide manager selection and monitoring, and risk management and reporting.
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The pension fund mandate will separate fiduciary management from asset management and reporting & control.
The fund is responsible for the pension scheme of some 46,000 employees and former employees.
In addition, Avida International acted as adviser during the tendering process and Triple A Risk Finance was appointed as additional adviser for asset-liability management.
Willem Jan Boot, chairman of Stichting Pensioenfonds voor de Architectenbureaus, said: "We want to implement a high-quality pension scheme at the lowest possible cost. A rigorous process of selection has led us to F&C as the fiduciary manager best placed, in cooperation with our asset managers PGGM Vermogensbeheer and Syntrus Achmea Real Estate & Finance, to help us meet these basic principles."
Ben Kramer, board member of F&C Netherlands, said: "By making F&C its fiduciary partner, the fund will be able to focus even better on what should be the foremost priority for a pension fund’s trustees: strategy and risk management.
"Following the appointment of F&C as fiduciary manager, the pension fund’s board can now focus on essential issues, such as strategy and risk management," he added.
