Bpf Schilders, the Dutch pension fund for the decorating, painting, building finishing, and glazing industry, has found a new fiduciary manager with the appointment of Kempen. The fund plans to move all of its assets to its new fiduciary manager by 1 January 2023.
Schilders, which oversees the pensions of more than 100,000 members and has assets under management of over €8bn, had been on the look out for a new fiduciary manager after PGGM announced earlier this year its intention to focus its services for asset management and pension administration exclusively on its main client PFZW.
Kempen will provide all fiduciary services to Schilders including manager selection and monitoring, but the pension scheme will hire a third party for LDI management.
Dick Vis, Schilders’ employer chair, said: “We came to be impressed by the proactive and innovative approach used by Van Lanschot Kempen, especially as our fund aims to remain a front-runner in sustainability.”
The fund is looking to align its investments with the Paris Agreement by 2030.
According to Kempen’s Robin Schouten, the number of Dutch pension funds looking for a new fiduciary manager has increased since last year.
“This is because boards will soon be busy with the transition to the new DC [defined contribution] system. Funds are either switching now, or will remain with their current fiduciary for at least several years,” he said.