Stichting Pensionfonds SNS REAAL, s-Hertogenbosch, Netherlands, selected NN Investment Partners as fiduciary manager, according to the €4.3 billion ($5.1 billion) fund's website.
In efforts to reduce complexity resulting from regulations and reporting requirements and following a review of its governance model, the fund for financial services employees selected a fiduciary manager for the first time. NN Investment Partners will take oversight of the assets from the pension fund's money manager ACTIAM and risk manager and liability-driven investments manager Cardano. Further details were not immediately available.
"The pension fund has dedicated a considerable amount of time and energy to find the right fiduciary provider offering the desired integral balance sheet risk management and asset management in a fiduciary context. NN IP is client-centric, the team has a positive mindset and understands our needs well," Benno Honsdrecht, chairman of the investment committee at Pensioenfonds SNS REAAL, said in a separate news release.
A spokesman could not be reached to provide additional details.