AENA Pension Fund, The Hague, Netherlands, hired PGGM as fiduciary manager of the €20 million ($26 million) fund, according to PGGM spokesman David Uitdenbogaard.
The mandate is PGGM's first fiduciary management appointment since the asset management company was spun off in 2008 from the €72 billion Pensioenfonds Zorg en Welzijn, Zeist, Netherlands. PGGM is administering and managing the investment portfolio of the AENA fund, Mr. Uitdenbogaard said.
The mandate “fits in with our strategy to service more pension funds,” Martin van Rijn, chairman of the executive board at PGGM, said in a news release.
AENA officials were not available for comment.