The e2.6m Europol Pension Fund in The Hague, the plan for officials of the European police organisation, is to re-tender for the administration, asset management and risk coverage of the scheme, following a disappointing set of proposals from investment managers.
Roeland Woldhuis at Europol says the fund’s recent search for a single provider to cover administration, investment management and risk coverage, did not prove fruitful.
“We received some tenders but we have to admit that they were rather on the expensive side.
“We will be asking for tenders from new managers as quickly as we can.”
The fund, which started in July 1999, says it is looking for a single provider due to the size of the fund.
“It is better for us because we don’t have the capacity to do the co-ordination ourselves,” notes Woldhuis.
The target of the fund, which covers 161 Europol officials, is to invest approximately 80% in fixed income and 20% in equities. “The assets of the fund will be invested solidly, on the basis of a five-year investment policy and annual investment plans to be established by the board, taking into account the demands of solvency, liquidity, rentability and spread of risks.”