Pensioenfonds voor de Grafische Bedrijven, Amsterdam, hired Goldman Sachs Asset Management to run a €240 million ($312.18 million) active quantitative equity portfolio, CIO Dirk Wieman said.
The allocation is part of a more extensive portfolio restructuring by the €10 billion pension fund for the Dutch printers and media industry. Since summer 2006, the fund has been outsourcing about 90% of its €4.2 billion equity portfolio, Mr. Wieman said. In total, 12 firms were hired to run 16 portfolios. Mr. Wieman declined to provide further information on the managers.
The remainder of the equity portfolio remains internally managed. Another 47% of the fund is allocated to fixed income, and the rest to alternatives, including real estate and commodities. Fund officials will be considering whether to invest in infrastructure, private equity and structured notes and bonds, Mr. Wieman said.
"The philosophy behind it is diversity," he said.