Delta Lloyd Asset Management has appointed a number of fund managers as part of a new strategy aimed at “pro-actively offering integrated and sustainable solutions” for Dutch pension funds and medium-sized insurers.
With the appointment of managers for credit, illiquid fixed income and rates, Delta Lloyd AM said it had nearly completed a reshuffle of its expertise after the implementation of its new strategy.
Jacco Maters, chief executive and CIO, said the asset manager’s new strategy aimed to achieve maximum returns for clients while taking into account the restrictions imposed by the new financial assessment framework (nFTK).
He said Delta Lloyd AM was expecting “significant” interest for integrated solutions and considered itself well positioned to meet demand.
Referring to the company’s relationship with insurer Delta Lloyd, the group’s low-cost defined contribution PPI vehicle and its pending general pension fund (APF), he said the asset manager would be able to “turn its hand to anything”.
Maters said Delta Lloyd AM’s new policy would seek to further integrate responsible investment, with a dedicated team of SRI specialists, as well as at least one expert per investment team.
“By having subjects assessed by various specialists, we expect to achieve better results,” he said.
Delta Lloyd AM manages €54bn in institutional and private assets, including €5bn for approximately 30 pension funds.
Maters said he expected “sturdy growth” in pension assets under management but declined to provide further details.
He did reveal, however, that Delta Lloyd’s general pension fund, awaiting supervisory approval, aimed to manage €6bn in pension assets by 2020.
Over the last two years, the asset manager has lost a number of important fund managers, including Maters’s predecessor, Alex Otto; head of equity Jack Jonk; and head of interest Sandor Steverink.
Last spring, ratings agency Morningstar lowered the asset manager’s rating from ‘neutral’ to ‘negative’, and the downgrading, according to Maters, was largely due to its new strategy.
“Morningstar has faith in our new people, but it wants to see how the new strategy turns out first,” he said.
Among Delta Lloyd AM’s newly appointed specialists is Emile Ferjane, who has started as portfolio manager on the fixed income credit team.
He joined from Bank of America Merrill Lynch, where he has been an analyst and portfolio manager.
Delta Lloyd AM named Maurice Meertens as portfolio manager on the illiquid fixed income team as of 1 November.
Meertens comes from Rabobank, where he was a credit analyst.
The company further appointed Dmitry Zamkovoy as portfolio manager on the fixed income rates team as of 15 November.
Over the last four years, he has served as a fixed income trader at Rabobank.
Angus Steel, senior portfolio manager on the equity team, is to leave as of 1 November.
Meanwhile, Berber Harkema has started on the equity team as management trainee.
Maters said his investment teams were nearly complete following the newest appointments, with the only vacancies being in equities (two) and fixed income (three).
Delta Lloyd AM employs a full-time staff of 160.