Trustees of the AA Pension Scheme, Basingstoke, England, appointed Van Lanschot Kempen Investment Management as fiduciary manager for £800 million ($1 billion) in assets.
The AA Pension Scheme is the defined benefit arrangement operated by vehicle insurance and roadside assistance firm the AA. The firm has total plan assets of more than £1.4 billion and 24,000 participants.
Van Lanschot Kempen was chosen following an extensive selection exercise, a news release said.
“The Van Lanschot Kempen team bring considerable intellectual power to their portfolio decision-making and are strong communicators of their investment ideas," said Jay Stewart, chair of the investment committee at the AA Pension Scheme, in the release. "We expect them to play a key role in the investment governance model we operate and enable trustee energies to be focused on top level, strategic matters.”
Further details were not immediately available.