NETHERLANDS - Blue Sky Group, the manager of KLM's Dutch pension assets, has been appointed to run £34.8m (€50.8m) for the KLM (UK) Pension and Life Assurance Scheme.

Blue Sky investment head Fons Lute said the client would "strengthen our position in the English market".

"Since May 2006, we are already doing investment management for Air UK Pension Scheme as well".

Rob Kies, chairman of the board of the KLM (UK) Pension Fund stated that "the choice for Blue Sky Group has been reached after a due diligence of several investment managers".

At present, Blue Sky Group manages the investment portfolio of the several Dutch KLM pension funds. For the new client, Blue Sky Group will be working together with UK consultant Gissings, which is the fund's actuarial and investment advisor.

Blue Sky Group manages around €10.6bn for Dutch, English and German pension funds in a so-called pooled multi-management structure.

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