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BoNYM to service APG’s GTAA assets

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  • BoNYM to service APG’s GTAA assets

NETHERLANDS - APG Investments, the asset management arm of the giant ABP pension fund, has appointed Bank of New York Mellon to manage the asset administration for its global tactical asset allocation strategy.

A statement issued by the BoNYM's asset servicing division suggests the firm will provide "derivative and complex products solutions" such as trade capture, reconciliation, accounting, custody as well as daily reporting for the €3bn portfolios.

BNY Mellon is said to have been awarded the mandate after several months of in-house testing at APG's head office in Heerlen.

Whereas pension funds elsewhere in the Netherlands have struggled to see the benefits of adopting GTAA as a strategy, a spokesman for APG said the GTAA team has been very happy with its performance so far for the €217bn industry-wide pension funds.

APG has also partnered with BoNYM in earlier arrangements for both traditional investments and global custody services, though the spokesman was unwilling to comment on signed deals, and was therefore unable to reveal whether this latest mandate had previously been managed by another party.

If you have any comments you would like to add to this or any other story, contact Julie Henderson on + 44 (0)20 7261 4602 or email

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  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

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