NETHERLANDS - Goldman Sachs Asset Management says it has been appointed to as fiduciary manager for €750m in assets at Stichting Pensioenfonds Océ.
“As of June 30 2006, Stichting Pensioenfonds Océ has appointed Goldman Sachs Asset Management (GSAM) to manage a €750m fiduciary management mandate across all of the pension fund’s assets – including equities, fixed-income and real estate,” GSAM said.
And it said that ABN Amro Mellon was appointed by Océ as the new custodian for the mandate.
Last month Dutch industry-wide transport fund Pensioenfonds Vervoer appointed GSAM to run a €5.4bn fiduciary mandate – resulting in a loss for incumbent F&C.
Elsewhere, consulting and software firm ORTEC said it has been selected by pension fund management firm AZL.
AZL has selected ORTEC’s PRISMA solution to optimize its investment portfolios, a release stated. And AZL would also provide its clients with “detailed reports of short-term risks”. Financial terms were not disclosed.
AZL project manager Roger Bastings said: “After an extensive selection procedure we chose ORTEC, because we are convinced of the quality of its model and we have confidence in ORTEC’s good reputation in the pension fund and asset management industry.”