Bedrijfstakpensioenfonds voor de Banden en Wielenbranche, Heerlen, Netherlands, hired Kempen Capital Management as fiduciary manager, the plan’s spokesman confirmed.
Kempen will provide the €600 million ($642 million) Dutch pension fund for the tire and wheel industry with strategic advice, discretionary manager selection, manager monitoring and risk management. Kempen replaces MN Services.
“Of all the providers screened, (Kempen) were the ones who best met our requirements,” Ruud Spuijbroek, chairman of the pension fund, said in a news release. “Kempen obviously has in-depth knowledge of the specific area and the short lines of communication as well as their proactive attitude are aspects that we greatly appreciate.”