NETHERLANDS – The €11bn Dutch doctors pension fund SBA has implemented a new portfolio management and accounting system.

The Utrecht-based scheme has put into place a system developed by State Street Corp. subsidiary Princeton Financial Systems to improve the quality of information for its front and back offices.

Princeton said in a statement that the Artsenpensioenfonds, or Pension Fund for General Practitioners and Medical Specialists, was the first European pension fund to use the ePAM service model.

"Our goal was to increase our level of professionalism to the general practitioners and medical specialists that we serve in the Dutch pension fund market,” said scheme chief executive Bert Bos.

“To achieve that goal, we needed to take our investment administration and management information in-house." The fund licensed the system last year.

The fund hopes it will help improve the quality and availability of information for its front and back offices, as well as obtaining straight through processing to improve efficiencies throughout the investment process.

Previously, the fund has used in-house tools and a third party service.

Scott Ferrante, Princeton Financial Systems’ chief operating officer said he was “extremely pleased” with the decision.

Princeton opened an office in Amsterdam in December. In the same month SBA said it would overhaul its investment strategy.

The fund, which saw three senior executives leave in a restructuring, said in a statement that it planned to “implement a passive management strategy” for its pan-European and US large-cap equity portfolios, which represents almost €4bn of its total portfolio.