BELGIUM - Amonis OFP, the largest pension fund for health care workers in Belgium, has employed JP Morgan Worldwide Securities Services business to provide custody and investor services.
 
Hugo Lasat, chief executive of Amonis, said the deal was signed in part because of the additional support services JP Morgan now offers alongside its custody handling.

"The change of custodian has been implemented in record time and we are very satisfied with the final result and set-up," said Lasat.

"The implementation came at a challenging time as Amonis was managing the fall out of the financial crisis. Against this backdrop we are pleased to report a significant double digit growth in pension capital during 2009," he continued.
 
Revealing more about the scheme's developments, Lasat also said: "Amonis moved to a new asset allocation structure based on two major building blocks: an income portfolio based on the pension funds expected cash flows and a growth portfolio that delivers a superior investment return. Amonis also strengthened its internal governance and organisational structure."

Lasat joined the €1bn defined contribution pension fund in September, having previously worked as chief executive of Dexia Asset Management. (See earlier IPE story: Former Dexia chief to head up Belgium's Amonis)

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