NETHERLANDS - The pension asset management division of the Dutch insurer Interpolis has tapped ABN Amro Mellon Global Securities Services to take on the accounting for its €220m global high yield pooled fund.

Interpolis has declined to comment.

According to a release from ABN Amro Mellon, Interpolis will retain responsibility for pooled fund clients'  administration and daily net asset value calculations.

"The Global High Yield Pool has been set up as a Fonds voor Gemene Rekening (common account fund), a tax-transparent asset pooling vehicle that allows Interpolis' clients to organise their global high yield investments through external managers in an efficient fashion," said the firm.

ABN Amro announced its exit from the asset servicing business in July with the sale of its 50% stake in the ABN Amro Mellon custody joint venture. The newly merged Bank of New York Mellon is to acquire the remaining share.