Dutch doctors’ fund licences State Street system
NETHERLANDS – The 10 billion-euro Dutch doctors’ pension fund SBA Artsenpensioenfondsen has licensed a portfolio management system from State Street’s Princeton Financial Systems.
Princeton said the Utrecht-based fund has licensed its ePAM portfolio management and accounting system. Other clients in the Dutch market include civil service fund Stichting Pensioenfonds ABP and Blue Sky Group, which manages pension assets for airline firm KLM. Financial terms were not disclosed.
SBA chief executive Dick Hoek said: "Our goal is to continually increase our level of professionalism to the general practitioners and medical specialists that we serve in the Dutch pension fund market.”
“In order to do that, we need to take our investment administration and management information in-house. After a thorough review of available systems on the market, we feel that Princeton Financial's ePAM ASP model will allow us to achieve our requirements regarding functionality and technology.”
SBA has also licensed compliance and performance services from Princeton. The fund had previously used in-house tools and a third party provider, the supplier said.
"We are looking forward to our new relationship with SBA," said Scott Ferrante, Princeton's chief operating officer.
Princeton Financial Systems is a wholly owned subsidiary of State Street Corp.