Pensioenfonds PGB, Amsterdam, hired BMO Global Asset Management to run a dynamic equity protection strategy, said a spokesman for the multiemployer pension fund.
The spokesman said this is the first strategy of its kind for the €26.5 billion ($30.2 billion) pension fund. The strategy applies to the fund's €12 billion equity portfolio, protecting it against major market shocks, hedging tail risk. PGB already has a dynamic strategy in place regarding interest rates.
BMO already provides environmental, social and governance engagement services to PGB.