NETHERLANDS - PME, the 14 billion-euro pension fund for metal workers, has licensed portfolio decision software called AlphaEngine from Mcube Investment Technologies, according to an Mcube release.

Texas-based Mcube, which has a strategic alliance with Dutch consulting firm ORTEC, said Bedrijfstakpensioenfonds Metalektro has signed on as a client for its AlphaEngine web-based software that helps funds 'measure, manage and monitor' investment decisions.

"We see AlphaEngine as a key to supporting our goal of generating superior portfolio returns, while ensuring robust governance and transparency in our decision making," PME managing director of investments Roland van den Brink said in the release. "It provides us with a comprehensive way to manage our decision process."

Financial terms of the deal were not disclosed.

Patrick Groenendijk, PME's head of investment strategy, said the software "improves our ability to systematically evaluate and implement high-value asset allocation decisions".

"We are honored to have PME as a client," said Mcube chairman Arun Muralidhar. "They are very innovative and progressive, and immediately saw the vision and value underlying AlphaEngine."

Muralidhar is also managing director at New York-based and was co-author with Nobel Prize-winner Professor Franco Modigliani of 'Rethinking Pension Reform'.