Ronald van Dijk has joined Pensioenfonds Rail & Openbaar Vervoer, Utrecht, Netherlands, as executive director of asset management, effective April 15, the €23.8 billion ($25.3 billion) pension fund said in a statement.
“Rail & Public Transport is facing great challenges, and I would like to contribute to them," Van Dijk said in the statement.
He was managing director at APG Asset Management.
APG’s own challenges include clients who are “increasingly looking for index investment solutions with lower costs compared to actively managed portfolios,” an APG spokesman told Pensions & Investments in an earlier statement. That has led the organization to adjust costs, with the expectation of some job losses. It will try to redeploy affected employees within the organization if possible, the spokesman said.
APG had €569 billion in assets under management as of Dec. 31, including the assets of the €502 billion Dutch pension fund Stichting Pensioenfonds ABP, Heerlen, Netherlands.
