NETHERLANDS - Spoorwegpensioenfonds (SPF), the €12.1bn Dutch railway pension fund, is looking to invest a total of 5% of its assets in a new ‘opportunity portfolio'.
Marcel Andringa, head of investment strategy at SPF's fund manager SPF Beheer, told IPE: "In 2006, SPF started with an ‘opportunity portfolio': a new portfolio with new investment categories and strategies."
Via the new portfolio, SPF has begun investing in infrastructure, global tactical asset allocation (GTAA), micro financing and development projects.
"Next to this we are seriously looking at a number of new ideas," said Andringa, adding "the ultimate goal is to invest 5% of the total portfolio in the ‘opportunity portfolio'".
SPF Beheer launched the portfolio in 2006 so it could quickly add new investment possibilities to its portfolio, which do not fall within an already existing investment category.
That said, "investments that qualify need to have a economically well-founded, expected returns," while a low correlation with other investment categories is also desirable, said Andringa.
Certain investments could grow to be given an independent investment category.
ABP, the giant €211bn Dutch civil service scheme, last year brought to life a new innovation committee as part of a plan to seek out new classes of assets and to harness internal expertise, in order both to seek out ideas and to assist with the various stages of implementation.