Stichting Bedrijfstakpensioenfonds voor de Handel in Bouwmaterialen, Breda, Netherlands, hired Northern Trust to provide investment oversight for its €550 million ($749.3 million) investment portfolio, confirmed Rob Braaksma, managing partner at the pension fund.
Northern Trust will analyze the investment management services that the industrywide pension fund for building and construction material wholesalers receives from money managers.
Northern Trust is already the custodian of the pension fund, according to Mr. Braaksma. He said the pension fund had not previously used an oversight manager and Northern Trust will be “another pair of eyes” on the fund's investments.
